Options for Under Eye Bags Caused by Muscle Hypertrophy?

You are very pretty with lovely eyes and a young-looking face. I definately would not make an incision on your eyelid and try to reduce the orbicularis muscle--you would loose the natural beautiful look of your eyes.
As you get older, if you do consider any procedure at least think about an open fat graft (NOT fat injection!) to plump or fill the depression beneath the bulging muscle. This can camouflage the depression beneatah the muscle and add volume to the area. This also can be done through an incision on the inside of the lid which will preserve your beautiful eyelid shape.

You do appear to have a ridge of excess muscle underneath your lash line. I have on occasion removed a small strip or orbicularus muscle in patients who required it (these were extreme cases). It require careful judgement as you do need that muscle for proper eyelid function. My preference is to inject a bit of Botox in situations like these in order to allow the muscle to atrophy a bit. The results are subtle. My suggestion would be to take the advice of others here. You have lovely eyes and the ridges underneath your eyelids do not detract from your appearance. I have encountered patients with your situation, and I like to show thempictures of babies. Lots of babies have lower eyelid ridges, and we certainly don't consider them unattractive.

You have a lovely face and I don't think you would benefit from surgery at this time, especially since the modifying the muscles could contribute to an undesirable result.