AppleScript to Show or Hide Application. Launch it if not running.

Show or Hide Xcode.scpt

set appName to "Xcode"

tell application appName
	if it is not running then
		activate
	else
		tell application "System Events"
			set activeApp to name of first application process whose frontmost is true
			if visible of application process appName is false or (not (exists (window 1 of process appName))) or (appName is not in activeApp) then
				tell process "Dock"
					tell UI element appName of list 1
						click
					end tell
				end tell
				set visible of application process appName to true
			else
				set visible of application process appName to false
			end if
		end tell
	end if
end tell

Some special cases

Finder

set appName to "Finder"

tell application "System Events"
	set activeApp to name of first application process whose frontmost is true
	if visible of application process appName is false or (not (exists (window 1 of process appName))) or (appName is not in activeApp) then
		tell process "Dock"
			tell UI element appName of list 1
				click
			end tell
		end tell
		set visible of application process appName to true
	else
		set visible of application process appName to false
	end if
end tell

Visual Studio Code

set appName to "Visual Studio Code"
set processName to "Code"

tell application appName
	if it is not running then
		activate
	else
		tell application "System Events"
			set activeApp to name of first application process whose frontmost is true
			if visible of application process processName is false or (not (exists (window 1 of process processName))) or ("Electron" is not in activeApp) then
				tell process "Dock"
					tell UI element appName of list 1
						click
					end tell
				end tell
				set visible of application process processName to true
			else
				set visible of application process processName to false
			end if
		end tell
	end if
end tell

iTerm2

set appName to "iTerm2"
set dockName to "iTerm"

tell application appName
	if it is not running then
		activate
	else
		tell application "System Events"
			set activeApp to name of first application process whose frontmost is true
			if visible of application process appName is false or (not (exists (window 1 of process appName))) or (appName is not in activeApp) then
				tell process "Dock"
					tell UI element dockName of list 1
						click
					end tell
				end tell
				set visible of application process appName to true
			else
				set visible of application process appName to false
			end if
		end tell
	end if
end tell