1. [techspeak] To relinquish a claim (of a process on a multitasking system) for service; to indicate to the scheduler that a process may be deactivated until some given event occurs or a specified time delay elapses.
2. In jargon, used very similarly to v. block; also in
sleep on, syn.: with block on. Often used to indicate that the
speaker has relinquished a demand for resources until some (possibly
unspecified) external event: They can't get the fix I've been asking
for into the next release, so I'm going to sleep on it until the release,
then start hassling them again.