LCEVC (or MPEG-5 part 2) is a standalone standard by MPEG, distinct from EVC. It differs from other approaches by being a “low complexity enhancement” (the first three key letters of the acronym Low Complexity Enhancement Video Coding) for any of the existing or future video compression technologies.
Interestingly, it can enhance MPEG standards including AVC, HEVC, VVC and EVC and other technologies such as Google’s VP9 and AOM’s AV1. In contrast, EVC or “Essential Video Coding” is a fully self-contained video codec that can be enhanced by LCEVC.