To perform the conversion, select Main Menu > Maintenance > Convert All to Relative Paths or Convert All to Absolute Paths.

A relative path expresses the file location relative to the folder where CLaunch.exe is located.
This is suitable when using CLaunch from removable media such as a USB drive.

An absolute path expresses the file location from the root directory, such as C:\aaa\bbb\ccc.exe.
This format is used by default when items are registered.