  Motivated by the recent excitement around the physics of twisted transition
metal dichalcogenide (TMD) multilayer systems, we study strongly correlated
phases of TMD heterobilayers under the influence of light. We consider both
waveguide light and circularly polarized light. The former allows for
longitudinally polarized light, which in the high frequency limit can be used
to selectively modify interlayer hoppings in a tight-binding model. We argue
based on quasi-degenerate perturbation theory that changes to the interlayer
hoppings can be captured as a modulation to the strength of the moir\'e
potential in a continuum model. As a consequence, waveguide light can be used
to drive transitions between a myriad of different magnetic phases, including a
transition from a $120^\circ$ Neel phase to a stripe ordered magnetic phase, or
from a spin density wave phase to a paramagnetic phase, among others. When the
system is subjected to circularly polarized light we find that the effective
mass of the active TMD layer is modified by an applied electromagnetic field.
By simultaneously applying waveguide light and circularly polarized light to a
system, one has a high level of control in moving through the phase diagram
in-situ. Lastly, we comment on the experimental feasibility of Floquet state
preparation and argue that it is within reach of available techniques when the
system is coupled to a judiciously chosen bath.
