The Hulk's limitless strength and planet-level durability make Homelander completely irrelevant.
This is an extreme mismatch. The Hulk has traded blows with Thor, withstood planetary-level attacks, and his strength increases without limit as he gets angrier. Homelander's best feats involve city-level destruction and tanking conventional military weapons. The power gap is astronomical.
Homelander's heat vision is his strongest attack, but the Hulk has tanked far more intense energy attacks from cosmic beings. His skin has withstood nuclear detonations. Homelander's lasers would annoy the Hulk at best, and every attack that connects only makes the Hulk angrier and stronger.
Homelander would realize within seconds that nothing he does affects the Hulk, and his fragile psychology would collapse. The Hulk would end this fight with a single punch that generates more force than anything Homelander has experienced.
Homelander has heat vision, flight, and super durability. His aerial advantage lets him attack from distance, and his heat vision could theoretically target the Hulk's eyes or other sensitive areas.
The Hulk's strength is literally limitless, his durability has withstood nuclear weapons, and his thunderclaps alone generate more force than Homelander's best attacks. A single punch would be devastating.
The Hulk wins effortlessly. Homelander cannot meaningfully damage someone who tanks planetary attacks, and one hit from the Hulk would end the fight. The power gap is enormous.
Homelander also fights
Hulk also fights