We investigate the correlation-induced Mott, magnetic, and topological phase transitions in artificial (111) bilayers of perovskite transition-metal oxides LaAuO$_3$ and SrIrO$_3$ for which the previous density-functional theory calculations predicted topological insulating states. Using the dynamical-mean-field theory with realistic band structures and Coulomb interactions, LaAuO$_3$ bilayer is shown to be far away from a Mott insulating regime, and a topological-insulating state is robust. On the other hand, SrIrO$_3$ bilayer is on the verge of an orbital-selective topological Mott transition and turns to a trivial insulator by an antiferromagnetic ordering. Oxide bilayers thus provide a novel class of topological materials for which the interplay between the spin-orbit coupling and electron-electron interactions is a fundamental ingredient.
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