We experimentally explore the dynamical optical hysteresis of a semiconductor microcavity as a function of the sweep time. The hysteresis area exhibits a double power law decay due to the influence of fluctuations, which trigger switching between metastable states. Upon increasing the average photon number and approaching the thermodynamic limit, the double power law evolves into a single power law. This algebraic behavior characterizes a dissipative phase transition. Our findings are in good agreement with theoretical predictions for a single mode resonator influenced by quantum fluctuations, and the present experimental approach is promising for exploring critical phenomena in photonic lattices.