Chiral Spin Liquids (CSL) are quantum spin analogs of electronic Fractional Chern Insulators. Their realizations on ultracold-atom or Rydberg-atom platforms remain very challenging. Recently, a setup of time-periodic modulations of nearest-neighbor Heisenberg couplings applied on an initial genuine spin liquid state on the square lattice has been proposed to stabilize a (Abelian) $\mathbb{Z}_2$ CSL phase. In the high-frequency limit, it was shown that time evolution can be described in terms of a static effective chiral Hamiltonian. Here we revisit this proposal and consider drives at lower frequency in a regime where the high-frequency Magnus expansion fails. We show that a Dynamical CSL (DCSL) is nevertheless stabilized in a finite range of frequency. The topological nature of this dynamical phase, as well as its instability below a critical frequency, is connected to specific features of the Floquet pseudo-energy spectrum. We also show that the DCSL can be represented faithfully by a two-dimensional time-periodic tensor network and, as in the static case, topological order is associated to a tensor gauge symmetry ($\mathbb{Z}_2$ in that case).