Switching between Mott-Hubbard and Hund physics in moir\'e quantum simulators

Mott-Hubbard and Hund electron correlations have been realized thus far in separate classes of materials. Here, we show that a single moir\'e homobilayer encompasses both kinds of physics in a controllable manner. We develop a microscopic multiband model that we solve by dynamical mean-field theory to nonperturbatively address the local many-body correlations. We demonstrate how tuning with twist angle, dielectric screening, and hole density allows us to switch between Mott-Hubbard and Hund correlated states in a twisted WSe$_2$ bilayer. The underlying mechanism is based on controlling Coulomb-interaction-driven orbital polarization and the energetics of concomitant local singlet and triplet spin configurations. From a comparison to recent experimental transport data, we find signatures of a filling-controlled transition from a triplet charge-transfer insulator to a Hund-Mott metal. Our finding establishes twisted transition metal dichalcogenides as a tunable platform for exotic phases of quantum matter emerging from large local spin moments.