When FedEx tracking says a shipping label has been created it means that the shipper of the package has printed off a shipping label and paid for the postage.
It means that either the package is ready for pick up by FedEx or the shipper will drop the package off to FedEx soon.
It can take until around the end of the day before the package gets into FedEx possession and then it will update to say picked up or delivered to FedEx.
Then from there the package goes through different sorting facilities until it reaches your state where it will then be loaded onto a local FedEx truck and say out for delivery.
If the tracking says your package is out for delivery today then it will be delivered that day by the end of the day.
Most times FedEx does deliver your packages on the expected delivery date.
However there have been times where a package was delivered to me by FedEx a day before the expected delivery date.
Also sometimes delays can happen such as severe weather that may cause a day or two delay in the delivery date of your FedEx package but it's rare that it happens.
Most times you will get your package from FedEx on the expected delivery date.
Some packages require a signature for the FedEx package and some packages will just be left at your door.
If you're gone and the FedEx package requires a signature then the FedEx driver will leave a door tag where you can sign the door tag for your signature and they will release the package.