I looked in the in-game manual (F1) but I couldn't find anything that explains the specific Weapon Effects for each weapon on the ship. When one hovers the cursor on a weapon, a pop-up box appears, but it doesn't explain what each of the Effects mean. Is there an explanation listed somewhere else?

I've attached a screenshot

I recommend going to the Shortest Trip to Earth Wiki. It explains the different weapons and their effects in detail. Can I post a link here? I will try to post a link here:

https://shortesttriptoearth.fandom.com/wiki/Weapons

If the link doesn't work, just search for Shortest Trip to Earth wiki and select the Weapons tab. The site is practically required reading if you want to do well early on.