Flow of control? or Control of flow?
I am not sure what you mean by "language-agnostic definition of this concept in CS"; such notions are rarely (if ever) rigorously defined. Someone uses them first, others pick them up and eventually they become standard vocabulary. That's ho we get conflicting notation all the time.

In this case, I don't see an either-or. Both makes sense, depending of how you look at it. The semantics of the language control the flow of execution, i.e. determine which statement is executed next. But as this control -- once it is implemented in a processor -- only looks at the current statement, it flows along, that is control flows.