Yes I agree ,it means to get into trouble. Another saying is "to get into a spot of bother"

HI... If you keep skipping A block class, you will get into hot water with your teacher. The young boy got into hot water with his parents when he had a fight at school. If she keeps getting into hot water, she will be kicked out of school.

It means to be in a bathtub taking a hot bath with somebody else... xD Just kidding. It means get into trouble with somebody.

To be in trouble with that person.