MSYS2 is a software distribution consisting of several independent parts, each with their own licenses, comparable to a Linux distribution.
The installer, for example, is based on the qt-installer-framework and pre-packs the direct and indirect dependencies of the base meta package. Each package has its own licenses.
The "pacman" package manager in MSYS2 allows users to install other packages available in our repository, each with their own licenses.
The license information for each package as visible on https://packages.msys2.org is maintained on a best effort basis and we make no guarantee that it is accurate or complete.