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Out-of-equilibrium driven nonlinear oscillators have attracted interest as a platform for tailoring Floquet Hamiltonian spectra and stabilizing quantum states for quantum information. However, it is usually ignored that the necessary parametric drive can amplify environmental fluctuations limiting applications. In this work, we capture this effect by computing the effective Lindbladian of a Kerr parametric oscillator beyond the rotating wave approximation. We find that the relevant dissipators depend strongly on the nonlinearity and the mean-photon number in the oscillator. In particular, we address recent measurements of the logical lifetime on a Schr\"odinger's-cat qubit stabilized by a parametric drive, thereby providing an explanation for the observed three-order-of-magnitude discrepancy between experimental data and an ordinary Lindblad treatment. Our systematic approach paves the path to treat dissipative effects in Floquet-engineered nonlinear quantum systems.
Venkatraman et al. (Tue,) studied this question.