You can put both the DemulShooter and TC5 command into the same AHK file:
run, C:\DeMulShooter-10.1.4\DemulShooterX64.exe -target=es3 -rom=tc5
run, "C:\Users\Owner\Documents\LaunchBox\Games\Time Crisis 5\TC5\Binaries\Win64\TimeCrisisGame-Win64-Shipping.exe" -NOINI -Language=JPN -playside=1
MButton::y
RButton::t
LCtrl::+T
0::WheelDown
1::+H
Escape::
Process,Close,TimeCrisisGame-Win64-Shipping.exe
Run,taskkill /im "TimeCrisisGame-Win64-Shipping.exe" /F
ExitApp
return
then in launchbox add the game as if you were adding in any Generic ROM
MENU -> Tools -> IMPORT -> ROM Files...
then add the file by browsing to the AHK you created, tell it to keep all files in their current location, and when it asks you what emulator to use just pick any one you already have
when the game is finished importing, right-click on it and click on Edit
on the left hand side, Under Launching click on Emulation, and then un-check "Use an Emulator to play this game"
then click OK at the bottom
Launchbox will now just execute that AHK when you launch that game