The Elastic Beanstalk docs say:
Web server environments have ... one of the following two resources.
AWSEBAutoScalingLaunchConfiguration (AWS::AutoScaling::LaunchConfiguration) – The launch configuration attached to your environment's Auto Scaling group.
AWSEBEC2LaunchTemplate (AWS::EC2::LaunchTemplate) – The Amazon EC2 launch template used by your environment's Auto Scaling group.
AWS is in the process of deprecating Launch Configurations, as Launch Templates are strictly more featured. In particular, AWS has sent a notice to customers saying:
After December 31, 2022 no new Amazon Elastic Compute Cloud (Amazon EC2) instance types will be added to launch configurations.
How do I convert an Elastic Beanstalk environment that is currently using a Launch Configuration to use a Launch Template instead?
I was in this exact position. I connected with AWS support and the answer I received is that launch configurations being used in Elastic beanstalk apps will be migrated automatically behind the scenes. So if your only launch configurations are generated as part of an elastic beanstalk then you have nothing to do, and the notice only applies to configurations created outside of Elastic Beanstalk.