So I figured out what is causing the LifeCam to light up. Cisco Webex Teams and Meetings apps use the microphone to listen for ultrasonic signals from room devices to automatically join meetings to the room device when you get within range. Since the apps are using the mic, the light on the LifeCam lights up (interestingly, even if you select a different mic to use, the LifeCam still lights up - perhaps in an effort to notify the user that ANY mic is being used).
To make the light go off, do the following:
Go into the options of the app (for teams, the icon right above the help in the lower right).
Go to "Devices" on the right column.
Uncheck "Use ultrasound".
This will stop Webex from constantly using the microphone. If this is on a mobile device, be aware that it will no longer auto discover room devices once you turn this off (they may still be discoverable via WiFi, but that method is much less reliable). I use my phone with Webex apps to perform the auto discover of room devices, so this is no problem for me (most people using LifeCams will be at a desktop that doesn't need this functionality anyway).
Hope this helps everyone.
