You can think of artwork as the picture side of things, made by hand and eye: whatever someone drew, painted, shaped or photographed, sitting there as a finished thing. The word points at the object, never at the act of making it. Where the object ends up decides which meaning you are reading — on a wall, it is art; on a page waiting to be printed, it is the picture material that goes beside the words.
From the word’s history
Wiktionary derives artwork from art + -work, with art going back through Old French to Latin ars, a word about skill and craft. So the compound literally names the thing that skill produced.
來源把 artwork 拆成 art 加 -work，而 art 經古法文往上追到拉丁文的 ars，本來講的是「技藝、做得出來的本事」。合起來字面上就是「憑手藝做出來的東西」。
Wiktionary, entry "artwork" (kaikki snapshot kaikki:3f6f69a190036ae4:1012810383): etymology tree PIE *h₂er- > Latin ars > Old French art > English art, "From art + -work."
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