Visual Studio Code only supports one launch.json file. However, it supports two or more configurations, and they appear in the left-hand menu/pane’s drop down list (instead of “No Configurations”).

In the DEBUG pane, either click the Config button circled in red above or click the blue link “create launch.json file”:
Click it and it creates a launch.json file with debugging configurations. Edit this file and add the args in this key-pair format AND add multiple for different args including Variable Substitution!
{
// Use IntelliSense to learn about possible attributes.
// Hover to view descriptions of existing attributes.
// For more information, visit: https://go.microsoft.com/fwlink/?linkid=830387
"version": "0.2.0",
"configurations": [
{
"name": "Python: Current File with my args",
"type": "python",
"request": "launch",
"program": "${file}",
"args": [
"--username", "Jeremy",
"--account", "Stackoverflow"
],
"console": "integratedTerminal"
},
{
"name": "Python: Current File with UserName arg",
"type": "python",
"request": "launch",
"program": "${file}",
"args": ["${env:USERNAME}"],
"console": "integratedTerminal"
}
]
}
Put a breakpoint in your Python script, for example on the first line under def main(...) and then press F5 or click Run Menu > Start Debugging.