this term (noun/adj) itself is a short form of Lao-Szechuan and has multiple meanings that can differ based on context. It is widely used to signify an asian meal that incorporates some sort of oriental seasoned meat cooked with veggies and served on a side of rice. Also, the term can be used to explain something in a negative regard and show signs of difficult/hopeless situations.
Term used as a noun:
Dwight: Hey Alex, what have you prepared for dinner tonight?
Alex: Tonight, we will be having Lao-Sesh.
Term used as an adjective:
Dwight: How was your Organic Chemistry exam last week?
Alex: Scores came back and I got the class low, 14.5%. I got Lao-Seshed.