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A product cannot be discounted within 30 days of a prior discount, within 30 days of its release, or within 30 days of a price increase in any currency. These are commonly referred to as '30-day discount cooldowns.' There are only a two exceptions to the 30-day discount cooldown rules:
A Launch Discount is an optional introductory offer which allows a product to be on discount at its release, either its Early Access release or its full v1.0 Release (or both if they are at least 30 days apart). Launch Discounts can only be set up prior to the product's release date, not after. Once a launch discount ends, the product cannot run any other discounts for 30 days.
A Seasonal Sale is a big Steam-wide sales event, such as the Summer, Autumn, Winter and Spring sales. Unlike other discounts, these do not have 30-day discount cooldowns, and they're exempt from the 30-day discount cooldown of other non-launch discounts.
This means you can schedule your own non-launch discount within 30 days of a Seasonal Sale - either before or after - and still join the Seasonal Sale. Product releases and launch discounts do not get this exception.
These exceptions only apply to the discount events created specifically for the Seasonal Sales, which appear in the Discount Management Dashboard ahead of each sale. If you set up your own discount event around the same time as a Seasonal Sale, it wont get these exceptions.
See Seasonal Sales for details and event timing.
For more information on it: https://partner.steamgames.com/doc/marketing/discounts