CV stands for Configuration Variable.
CVs are where you can store your chosen settings in a decoder, just as you can store a friend's number in your phone.
CVs are something you can ignore when you're getting started, except for allocating individual numbers to your locos.
A typical decoder has dozens of CVs where you can customise various settings should you wish. Anything from the loco's maximum speed through to the rate at which a light will flash.