The simple version
I think the time period will be same, in both cases.
Think of the pendulum's bob as the system. When "deriving" the expression for time period, we consider the bob to be the system, with the forces on it as $mg$, $T$ etcetera. We assert that:
$$ m\ell^2\dfrac{\mathrm d^2\theta}{\mathrm dt^2} = -mg\ell\sin\theta \approx -mg \cdot \theta$$
Giving,
$$T \approx 2\pi\sqrt{\dfrac {\ell}g}$$
All along, we involved only the forces that were applied on the bob, as a whole, externally. We didn't think of the internal forces. Now if we replace the rigid spherical bob by a hollow bob filled with fluid, we will have to consider "the hollow sphere, along with the fluid" as the system. We would then arrive at the same result. All along, we have assumed small oscillations.
Digging deeper
The thing is, all the above process is an approximation. But, importantly, I have also indirectly approximated that the fluid is a rigid body.$^1$ It is perfectly reasonable, if the hollow was completely filled, and the fluid was incompressible. But the question says water, which is compressible.
So what would happen is as the bob reaches the bottommost part of its trajectory, the water would be compressed due to the centrifugal force, thus shifting the centre of mass of the "bob system" lower for some time. This itself will vary so complicatedly that I cannot even begin to calculate the time period (good luck on that). But I predict that the time period will increase, seeing that for short periods $\ell$ effectively increases. For larger amplitudes, this effect will be even larger.
Note that, if the question had said "an incompressible fluid" instead of water, then whatever the situation (the bob should be completely filled though), the time period would be exactly the same.
I am open to discussion on this answer and any errors you might spot. I would like to know from the experts if my answer is indeed correct (just upvote! :P). Thank you.
$1$: I have also approximated that the bob is a point mass, but it doesn't really matter here, because both our bobs will be identical in all respects, except the ability of the fluid to be deformed. The essential difference has already been discussed!