We present an experimental investigation of Rayleigh-like wave propagation along the surface of a dense granular suspension. Using an ultrafast ultrasound scanner, we monitor the softening of the shear modulus via the Rayleigh-like wave velocity slowdown in the optically opaque medium as the driving amplitude increases. For such nonlinear behavior two regimes are found when increasingthe driving amplitude progressively: First, we observe a significant shear modulus weakening due to the microslip on the contact level without macroscopic rearrangements of grains. Second, there is a clear macroscopic plastic rearrangement accompanied by a modulus decrease up to 88%. A friction model is proposed to describe the interplay between nonlinear elasticity and plasticity, which highlights the crucial effect of contact slipping before contact breaking or loss. Investigation of this nonlinear Rayleigh-like wave may bridge the gap between two disjoint approaches for describing the dynamics near unjamming: linear elastic soft modes and nonlinear collisional shock.