  The advent of twisted moir\'e heterostructures as a playground for strongly
correlated electron physics has led to a plethora of experimental and
theoretical efforts seeking to unravel the nature of the emergent
superconducting and insulating states. Amongst these layered compositions of
two dimensional materials, transition metal dichalcogenides (TMDs) are by now
appreciated as highly-tunable platforms to simulate reinforced electronic
interactions in the presence of low-energy bands with almost negligible
bandwidth. Here, we focus on the twisted homobilayer WSe$_2$ and the insulating
phase at half-filling of the flat bands reported therein. More specifically, we
explore the possibility of realizing quantum spin liquid (QSL) physics on the
basis of a strong coupling description, including up to second nearest neighbor
Heisenberg couplings $J_1$ and $J_2$, as well as Dzyaloshinskii-Moriya (DM)
interactions. Mapping out the global phase diagram as a function of an
out-of-plane displacement field, we indeed find evidence for putative QSL
states, albeit only close to SU$(2)$ symmetric points. In the presence of
finite DM couplings and XXZ anisotropy, long-range order is predominantly
present, with a mix of both commensurate and incommensurate magnetic phases.
