Hello @renenste,
Welcome to the LastPass Community!
The difference between the auto-logoff and the many minutes of inactivity is the amount of time that you will get completely log out of LastPass vs log out from the extension. The many minutes of inactivity is specially when you leave your computer alone or in idle so it logs you out from the LastPass extension and close your session while the computer is on. However, with the auto-logoff even do the computer is on or off meaning in use or just in sleep mode you will get log out.
If you need anything else, let us know.
Kind Redgards,
Alejandra
LastPass Support