No. "cutting" and "bulking" are achieved through energy balance, i.e eating less or more food than needed to support the work you do.
The only reason to ever lift weights that feel light is if they are part of a rehab/prehab/mobility program.
All of your work in the gym should be done with heavy weights. Heavy in the sense that your sets feel challenging at whatever rep range you are using. Different rep ranges tax your heart, lungs, muscles and nerves in different ways. Most serious lifters work primarily in the low (3-5 reps) or moderate (8-10 reps) ranges, and commonly in both. Many people will also do some work in the high (12+ reps) range either as part of a warm up or as a "burn out" set at the end of a routine.
Heavy weights give your body a reason to preserve muscle when in a caloric deficit (cutting) or build it when in a caloric surplus (bulking).