The laser cutting of wafers is critical in the manufacturing process, with the polarization state of the beam significantly affecting the efficiency and quality of wafer cutting. Utilizing a liquid crystal spatial light modulator (SLM) in conjunction with combinations of half-wave and quarter-wave plates allows one to achieve dynamic control over the polarization state of the beam by dynamically loading various grayscale patterns onto the SLM. Based on this concept, three methodologies were implemented for cutting monocrystalline silicon carbide (SiC), ensuring that the polarization state of the beam remains parallel, perpendicular, or oriented 43° to the processing path direction. The results indicate that when the polarization state of the beam is parallel to the processing-path direction, the material cutting edge exhibits superior light absorption, thus resulting in the highest ablation efficiency. Additionally, the heat-affected zones on the top and bottom surfaces of the wafer, the edge chipping sizes, and the cross-sectional roughness are minimized, thus facilitating the attainment of more efficient and higher-quality wafer cutting.