Within this context, if it says "the federal reserve eats frozen puppies", it's likely not political. Ditto if it says "embargo country X for reason Y".
It can still be grey. If candidate X runs on position Y, and an ad is about position Y without ever mentioning candidate X, it's probably still political.
But all in all, it's about the election, not politics in general, and so it's a lot more clear. Not perfectly clear, no, but it's more clear than politics in general.
Of course, this narrow definition leaves out a lot of political issue ads that don't mention candidates or political parties by name, but are still very much political. Things like "support / oppose access to guns / abortion / health care / immigration / education / clean water / fair elections / military service / communication / electricity / there's a lot of other stuff" are quite often political ads without necessarily being tied to any particular candidate or party.
[1] https://en.wikipedia.org/wiki/List_of_political_parties_in_t...