Launch means execute in the context of your question.
But it could also mean release.
As for execution it comes from the instructions you write so the hardware will do certain things (read or write memory, do an operation, etc…). There are many instructions and they are organized in programs.
But launching a program per se has no direct relation with the actual software or hardware and is more of an user friendly term and marketed thing in a “launch bar’ for example.
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