I don't know if anyone has a total understanding, but this is what I was told a few years back.
The two Francis Lovelaces in question have nearly identical birth and death dates, but were from different wings of the English Lovelace family.Col.Francis Lovelace (1620-1675) was one of five sons of Sir William Lovelace of Woolwich, in the county of Kent. After a chaotic, but distinguished military career, he was appointed the second Governor of New York Colony by Charles II in 1667. Francis Lovelace of Culham Court (1623-1673) was the second son of Sir Richard Lovelace, First Baron of Hurley, in the county of Berkshire. He never visited the New World, but his grandson, John Lovelace (who became the Fourth Baron Lovelace of Hurley when the Third Baron died with no male heir)was appointed Governor of New York Colony by Queen Anne in 1708, but died shortly after his arrival in New York in 1709.
All the evidence I have encountered indicates that Governor Francis Lovelace died without issue.