Water is a great solvent. It’s neutral and doesn’t provide any strong positive or negative effects. It just helps components to mix better and to transport active components.
Cetrimonium Chloride is used mostly for formulation purposes and doesn't provide any strong skincare effects. Used mostly to help mix different components together. It also helps to increase the shelf life of the product. CIR safety report tells that this ingredient was found to be “…safe for use in rinse‐off products and …safe for use at concentrations of up to 0.25% in leave‐on products.”
In the European Union (EU), cetrimonium chloride and steartrimonium chloride were reported to be used as a preservative at up to 0.1%. They are also used in rinse-off hair care products at up to 2.5%, leave-on hair products at up to 1.0%, and in leave-on facial cream products at up to 0.5%.
PEG-40 Hydrogenated Castor Oil helps ingredients to mix better. It has nice cleansing activity helping to remove sebum and dirt from the surface of your skin. It's also responsible for making soft foam in soaps, shower gels, etc. Despite it having "PEG" in the title, it's considered to be safe.