Prepare the breading station: Place flour in a shallow bowl. Place eggs and water in a second shallow bowl. Place bread crumbs in a third shallow bowl, and mix in ground black pepper and cayenne pepper.

Coat chicken in flour, then eggs, and then bread crumbs, one piece at a time, and set aside.

Heat oil in a deep fryer to 375 degrees F (190 degrees C).

Fry chicken in small batches until the pieces are golden brown, 6 to 8 minutes. Remove chicken to drain on paper towels or a wire rack.

Make the dipping sauce: Combine mayonnaise, sour cream, horseradish, mustard, and Worcestershire sauce in a small bowl. Mix well, and serve with chicken.