The right-hander was 3-2 with a 4.19 ERA and one save in a career-high 56 appearances for Milwaukee last season before agreeing to a $1.2 million, one-year contract with the Mets in December.
The move was made retroactive to April 2. Wise had an MRI exam last week that showed no structural damage.
"To me, I was looking forward to him being a big part of our bullpen," manager Willie Randolph said.
Muniz pitched in two games for the Mets last season and had two saves for New Orleans this year. He was available out of the bullpen for New York's home opener Tuesday against the Philadelphia Phillies.