In a medium mixing bowl, add mayonnaise, apple cider vinegar, Worcestershire sauce, and water. Whisk until smooth.
Add prepared horseradish sauce, kosher salt, black pepper, garlic salt, onion powder, and cayenne pepper. Whisk again until fully combined.
Cover and refrigerate for at least 30 minutes to allow flavors to blend.
Drizzle over grilled or smoked chicken, or serve as a dipping sauce or dressing.