That is an Aqualuminator light/ return, same as I have.
Is it leaking where the unit mounts to to pool wall?
To remove the back cover where the wires go in, use a small screw driver through the lower hole, slightly pry down and the cover should pop off easily, and then disconnect the 2 wires.
Unthread plastic nut all the way off.
Slightly push the light forward out of return housing , go to the pool wall and finish removing the light and the outer slotted ring together, make sure water level is below the return opening.
Behind those items you will see 4 tabs that you use to unscrew ring from return housing.
There are clear silicone based rings, not cork that are on both outer and inner sides of pool wall that seal it, and If I am thinking right, a couple hard plastic rings.