" Is "adrv" an abbreviation or an acronym?"
A 'generic' abbreviation. Specifically, running BionicPup it refers to the file-system 'on storage' --in your case in the virtual drive-- with the name adrv_upupbb_19.03.sfs. [sfs is an acronym: squashed=compressed file-system]. Recommended reading, How Puppy Linux Works, https://www.forum.puppylinux.com/viewto ... 827#p55827. Although rockedge suggests that post is an 'advanced topic', it actually pretty easy reading before you get to "Things that provide input to init and change the things it does:" and will help you visualize what is happening and why.
As peebee wrote, Light Browser is an old, cut-down, limited functionality, version of Firefox which, per bigpup, is "able to read some of the html based info files, in the doc directory." Once you have another web-browser you don't need it. But keeping it won't hurt: when not in use it requires little RAM. If you decide not to keep it, remember to open Menu>Setup>Default Application Chooser>All and [after changing the selection of Web Browser to your new Browser] change any other reference to it.
As peebee wrote, it is automatically loaded at boot-up. If you mount [Left-Click] bionicpup's adrv to 'View Contents" you'll find that it only contains Light-Browser. That's not always the case with other Puppys. To prevent it from automatically loading, you have to either delete it or rename it. [Recommend the latter in case you later change your mind]. The 'How...Works' post identifies the names of file-systems which will be auto-loaded. Using bionicpup32, you can pick any name not mentioned there. But no 'Puppy's' initrd looks for names beginning with numbers. So, for example, you could Right-Click>Rename and just add a '1'. The adrv will not be auto-loaded on next boot-up.