The Launch options are just for displaying MangoHUD overlay ingame. Also use of GameMode for CPU optimizations, change CPU governor for better performance and process renicing and is recommended for AMD Ryzen CPUs with 3D V-Cache (espically with more than one CCX-Die) and Intel Core i/Core/Core Ultra CPUs with big.LITTLE technology. But the game can also be started and played w/o these Launch options, you won't have any significant downsides.