Rate of fire is not necessarily a difference between grenade launcher and cannon. The rate of fire will be designed into the weapon based in a number of factors. You can find similar rates of fire between an automatic grenade launcher and a medium caliber cannon designed for ground engagements. The difference in the cannon is muzzle energy (equating to flatter trajectories over longer distances with shorter time of flight), the ability to fire KE penetrators, and (typically) longer & heavier HE projectiles.
It should be noted that grenades come in high and low velocity variants (compare under slung rifle grenades to grenades of vehicle mounted AGLs). Cannons can also be designed to use ammunition of either high or low velocity. High velocity AGL is still less KE than a low velocity cannon, but the clear distinction does begin to blur ... And I cannot think of any production low velocity cannons.