  $\mathcal{PT}$-symmetric models with a Wick rotation of time ($ t \rightarrow
\pm i t$) show spectral phase transitions that are similar to those of
dissipative systems driven out of equilibrium. Optics can provide an accessible
test bed to explore spectral phase transitions of Wick-rotated
$\mathcal{PT}$-symmetric models. This is shown by considering the transverse
dynamics of laser light in optical cavities with variable reflectivity and
tilted mirrors. As examples, we discuss in details the optical analogue of the
hydrodynamic Squire model of vorticity and the Wick-rotated
$\mathcal{PT}$-symmetric nonlinear dimer model.
