The idea of the node is to take a simple white on black mask (or you can invert in the node if you have black on white) and create a "fake" depth map from it as though the shape had been extruded along some angle in the z-direction.
The created depth map can then easily be used as input to a depth ControlNet.
This node combines well with @versed sleet 's Text Mask (Simple 2D) node, which creates a text mask. This node then turns the text into a depth map and the depth ControlNet renders it in 3D with your style given by your prompt.
Example:
I chose an @ sign as an example here. The @ is black on white so I toggled in the invert input. Note the three images are the original text mask, the created depth map, and the final result using the depth map with depth ControlNet.