Before C++ added it we relied on undefined behavior that the compilers agreed to interpret in the necessary way if and only if you made the right incantations. I’ve seen bugs in the wild because developers got the incantations wrong. std::launder makes it explicit.
For the broader audience because I see a lot of code that gets this wrong, std::launder does not generate code. It is a compiler barrier that blocks constant folding optimizations of specific in-memory constants at the point of invocation. It tells the compiler that the constant it believes lives at a memory address has been modified by an external process. In a C++ context, these are typically restricted to variables labeled ‘const’.
This mostly only occurs in a way that confuses the compiler if you are doing direct I/O into the process address space. Unless you are a low-level systems developer it is unlikely to affect you.