Tree survival is more dependent on the ability to gather oxygen and water, oaks and other trees can survive "marginal" areas (where the soil stays saturated most of the year) the exception is the Swamp Oak, which grows quite well in swamps that have saturated soil most of the year.
What happens to tree roots when they reach the water table is that the growing tips drown, new roots form back up the
root where they are not soaking in water.
This is how many "flooded" trees survive, as long as the water recedes for part of the year, the root systems can make adjustments and if they can make good adjustments the trees live, if not the trees die a slow death.
This can be seen in just about any swampy area, there will
be nice oaks and popular trees that survive, but if they get terminal wet feet, they eventually die, rot and fall over.
In Florida there are oaks that have adapted a very shallow root system so they can grow where they are.