I have a application that uses Wix for its installer. I'd like to understand where the UAC window takes its app name from, I am having an old name where the UAC window appears does not correspond with current productname defined in Wix.

Digital Signature: It looks like your MSI is signed with a code-signing certificate?
"If you Authenticode-sign your .msi package, Windows will show that as the name. Otherwise, you get MSI's temporary copy of it, which has a random name." - source.
Signtool.exe: You need to modify your signtool.exe parameters:
Odd 'Program name' when installing signed msi installer
Some old answers with comments discussing signtool.exe parameters:
Links on Digital Signing:
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