At 0F, water is solid. You don't need a waterproof. Also, the air is usually dryer.
Breathable waterproofs are challenged most by cool/cold rain and high humidity. If you get wet, you can get cold.

Usually it is better to use separate insulation and shell layers. I can use a windproof or a waterproof shell and add mid-layers according to the temp. Cycling can generate lots of heat and moisture which can overpower many all-in-one jackets.