Ditch Launchbox for now until you learn more of how MAME works, & use the built-in UI. Much easier & it works just fine. All you have to do is run the the mame64.exe & choose a target for emulation. Then report back with all the info they told you & see if someone can help you from there. I am going to bet it's a Launchbox thing & not a MAME thing giving you problems.
GL
Pessimist: Oh, this can't get any worse!
Optimist: Yes, it can!
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