We investigate the quantum phase transitions of a two-dimensional Bose-Hubbard model with Rashba spinorbit coupling with and without thermal fluctuations. The interplay of the single-particle hopping, the strength of spin-orbit coupling and interspecies interaction leads to superfluid phases with distinct properties. With interspecies interactions weaker than intraspecies, at lower hopping strengths, the spin-orbit coupling induces the finite momentum phase-twisted superfluid phase and reduces the domain of insulating phase. At higher hopping strengths, the modulation in the density and phase favours stripe superfluid. A further increase in the hopping strength damps the density modulations, and the system exhibits homogeneous superfluidity. We examine the transition of striped to homogeneous superfluid phase using finite-size scaling and show that the critical hopping strength is independent of the atomic density. With interspecies interaction greater than intraspecies, the system exhibits phase-twisted to ferromagnetic phase transition without an intervening stripe phase. At finite temperatures, the thermal fluctuations destroy the phase-twisted superfluidity and lead to a wide region of normal-fluid states. These findings can be observed with recent quantum gas experiments with spin-orbit coupling in optical lattices.