The lgpo.pdf that's included in the download with lgpo.exe explains what those options do.
/v just makes lgpo.exe produce more verbose output.
/e followed by a GUID or by a name from the list below registers the GP CSE. From the documentation:
Enable a Group Policy client side extension for local policy processing.
Specify a GUID, or one of these names (case-insensitive):
zone – Internet Explorer zone mapping extension; needed for Site-To-Zone Assignment List policy.
mitigation – Mitigation Options extension; needed for the Untrusted Font Blocking policy (Windows 10).
audit – Advanced Audit Policy Configuration; ensures that GpUpdate.exe also applies advanced audit policy settings.
LAPS – Local Administrator Password Solution (LAPS) extension.
DGVBS – Device Guard virtualization-based security extension; needed for Credential Guard and for Device Guard (Windows 10).
DGCI – Device Guard code integrity policy extension; needed for Device Guard (Windows 10)