Does HWM influence SSD capacity?

Capacity planning can be found on the following documentation: Capacity Planning Guide | Aerospike Documentation

Basically, you need to find out how much memory and disk you need to ensure capacity is below it’s high-water-mark (default 50% for Disk and 60% for memory) on each node in the cluster. High-water-mark configuration’s only control the eviction (if you have data that expires).