I do not recommend using anything but the same type of oil that the machine is designed to use. However, using a very thin (low viscosity) oil of the same type, as a flushing medium, would be ok.
The main issue is seal compatibility. Most O-rings are compatible with hydrocarbon oils, etc. But sometimes O-rings can soften or swell or extrude due to the additives of non-recommended oils/fluids.
The real solution for clean hydraulic oil is good regular filtration, recommended oil changes and periodically draining the reservoir of the bad stuff. Simple really.
Water in the oil is commonly due to condensation forming inside the reservoir over night when the air in the reservoir cools right down. Getting the oil nice and hot next day usually boils the water off, but not always. Big changes in reservoir volume, especially with SA cylinders, means big amounts of humid air moving in and out of the air breather. We know humid air can hold lots of water, like a thunder storm.