Min. vert. distance from w/h exhaust and operable window

Taken from a Rheem direct vent water heater installation manual:

Vent Termination must be at least 9" from windows, doors, or any other opening through which flue gases could enter the building.

9" for less than 50k btu
12" for more than 50k btu.

Depends on if it is a direct vent appliance.