It's always awkward when the Anglo-sphere tries to see parts of the world with their racial lens. To be frank it's pretty ridiculous that we consider everyone from Asia to be the same race (literally 60% of the world population that encompasses people like this [1], this [2], and this [3] under one label, all three groups would probably see themselves as distinct races).
My understanding is that "Latinx" refers to people that are ethnically Mexico, Central America, and South American (and some parts of the Caribbean like Dominican Republic). Whereas "Hispanic" broadly refers to people who are from Spain's former colonies in the New World. So "Latinx" refers to race, but "Hispanic" refers to culture and encompasses people of a variety of races.
The US government is at least making progress. The US census disconnected "Hispanic" from the race category starting in 2010 [4]. So now people like me can appropriately say that I am racially white but also Hispanic.