Do I understand correctly that multiple Deployments of the same flow can run different code (e.g. dev vs. production)? For example with a storage in GCS and K8s Infrastructure, the actual code comes from the storage block and container image specified in the infra, both are set on deployment, not flow. Parameters are also deployment-specific. Since all of these are deployment-specific, does the “Flow” have any functional meaning for the deployment at all? Apart from grouping in the UI

Yes that could be the case. It’s not something we necessarily expect, but a “flow” is just a named group.