Can you please tell me how to make the text effect as the picture attached in Photoshop or Illustrator?
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At first glance I'd say it's a legit photo of a practical object.
It's possible it's a really nicely done render, using PBR materials, almost certainly in that case Substance Designer or Quixel Mixer from scans; if so, it's a really nice lighting setup, and all done by someone who really knows both general metallurgy and the impacts of heating the metal in the matrix holding the translucent material together.
My gut though is that someone took glass, really heavy blue-grey glass with a significant lead content, cast the YEA letterforms, smashed that, polished the smashed pieces in a rock-polisher, and then reassembled it. They placed it into a heated metal matrix, using a variant of the traditional Japanese approach to this called "Kintsugi"; traditionally, artists executing kintsugi use gold as the matrix, where this looks more like copper to my eye.
I'm not sure, but it's also possible that the "copper" is in fact glass, and that the whole thing is in fact a fused art glass piece.
I CAN comfortably say that there is no single "effect" in any basic graphics editing software I know of which will create this lettering out-of-the-box.
Some of the incredible motion-graphics procedural mesh kits made for modo users by Alexandr Shmakov might come close... but I don't think this is one of his.