The embedder could hand the module functions for manipulating external buffers via externrefs. (I'm not sure if that's a good idea, or not, just that it could.)
But if the module wants to compute on the values in the buffer, at some level it would have to copy the data in/out.
Assuming you're talking about reading binary data like (array i8), the GC MVP doesn't have a great answer right now. Have to call back into wasm to read the bytes. Something for the group to address in future proposals. Sharing between wasm modules is better right now.
But if the module wants to compute on the values in the buffer, at some level it would have to copy the data in/out.