Sanding wet will give you better results, but you have to keep it wet as you go… it’s a -very- messy process if done this way.
Dry can work too, just have to work at it a bit more and getting a true mirror finish is quite a bit harder.
The key with either is starting low and working up slowly… with no major damage you can start at 120 and work up from there, if you need to remove some serious scuffs then maybe 60… wouldn’t go lower than that.
From there work up one increment at a time (you can skip some in the middle… using 400 instead of 320 for example) until you get the result you want. For a true mirror polish you’ll have to go very high, possibly the 1000 range, and then switch to a polishing compound… if you just want satin you can stop quite a lot earlier.