So I think in most situations Luz is probably coming out on top here
Firstly, I wish that the OP specified
what rocket launchers are being used, as well as what grenades are being used, and how much of each CH has, as the amount of missiles & grenades CH has here is pretty crucial in determining if CH can win this or not
But after going through every single rocket launcher & grenade on the wiki, I found that the only one that could ever even hurt Luz is the
RPG-7, and that's with only a very specific type of ammo
which is why I wish there was more specifics in the OP about the type of rocket launcher & ammo
So unless CH has that particular rocket launcher with that particular missile, he probably won't even be able to harm Luz. Keep in mind, Luz tanked that 6.5 kg explosion cassually, she didn't even look hurt by it at all, so explosions from 9-B rockets aren't going to do anything at all. Luz clearly resisted the heat from the explosion, she should have resistance to high heats on her page. But pretty much, anything less than an RPG-7 with TBG-7V thermobaric warheads won't be doing too much damage to Luz
Even with that that specific type of rocket launcher, unless CH can get several direct hits Luz should be able to survive the explosions due to the explosions yield RAPIDLY decreasing with distance & only being a 3.5x AP difference. So CH would have to land pretty much perfect shots every time to damage Luz, and even then it's going to take a few to actually incap/kill her.
Much of CHs other tech here probably won't be too helpful either. Most guns like that don't even have 9-B piercing damage, they won't be able to do anything to a 9-A Luz. The powered laser pointer probably wouldn't be too useful either outside of an innitial onslaught. It might stun Luz for a bit, but not long enough for CH to get the kill, and really only serves as a temporary distraction
Same with the flashing strobe lights thing. It only seems to disorient you for a bit but not fully cripple you. So again, I doubt it'll really do much other than just serve as a temporary distraction, and won't incap her long enough for CH to kill her
Lastly is the chemical weapons, which I feel like are being overrated. Chemical weapons are no joke, don't get me wrong, but even the most dangerous ones on the planet still take a few minutes of inhalation to actually be fatal. Plus Luz has teleportation, the second she realizes that the area she's in is getting gassed, she could just get the hell out of there, or just fly out of the cloud. And that's assuming that the chemical weapon even reaches her. Chemical weapons were notorious for being hard to use because
the wind would often blow it the wrong direction & back at the people who threw it. So hell, if the wind just isn't going in the right direction, that could eliminate chemical weapons entirely. And there's nothing saying CH has a gas mask either, so the chemical weapons would also be highly lethal for them to use as they have no protection against it.
Honestly, the more I think about it, if Luz just takes flight, there isn't much CH could do. Having to hit an airborn target flying at Supersonic speeds with a Subsonic+ weapon isn't going to be all that easy, even for CH. Not to mention that a single glyph will vaporize CH. From just looking at her profile, even her weakest glyphs are City Block level. A single grazing shot and CH is atomized. So pretty much, Luz would be able to tank several attacks from CH's weapons & survive (& probably won't even get hit much if she just goes airborn), but a single thing hits CH and they're dead.
TL;DR: Unless CH has an RPG-7 with very specific ammo, CH wouldn't be able to do any meaningful damage to Luz, and much of CH's other equipment, such as the lights & gasses, probably won't be too helpful in the match. Luz's ability to also take flight & spam from the air while traveling at incredibley high speeds would give her a monsterous advantage that I don't see CH countering, even with all of their skill
I'm voting for Luz high diff