Apparently the handle remains available, even though you can't query for it.
Either way, my intent was to start an application hidden and use "Show no activate" to prevent it stealing focus,
which apparently isn't possible as starting hidden doesn't create a window in the first place.
Starting an application without stealing focus in general appears to be nearly impossible as well, so I guess that's that.
Most used desktop OS, actually called "Windows", ironically can't do proper window management. Go figure.
EDIT: So I figured I could at least switch back quickly after launch, but then
Run application 'notepad.exe'
Pause 3 seconds
Write '[Purple] {WINDOWEXISTS:*notepad*}' to log
Start Loop While : [{WINDOWEXISTS:*notepad*}] Equals '0'
End Loop
Write '[Purple] Switch' to log
Doesn't ever detect the window existing.
I know I can use "Wait until launched application is started before continuing", I'm mentioning the bug for the sake of the bug at this point.