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In the first case you are passing a function definition to setTimeout which will be executed once it is resolved.
In the second case you are directly executing the function, so you need to wrap the statement into a function:
setTimeout( () => this.emptyDivision('one'), 5000)
If emptyDivision returned a function then that function would be executed after the timeout and you wouldn’t need to wrap it.
Source:stackexchange.com