The Launch Date feature is available for Pre-order Individual settings and All Products settings only.

If the expected date of availability changes, you can use this feature to send emails to your customers who have pre-ordered the product. Just select the correct date for when the pre-order product will be available and click on "Send Email Alert." This will automatically send an email to all customers who have pre-ordered the product. However, to ensure that your emails don't get marked as spam, please note that this action can only be done once every 72 hours.
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Here is a sample email that your customer will receive:

Unfortunately, merchants are currently not able to modify the message of the Launch Date emails. However, we understand the importance of this feature and are actively working on making it available to you soon.