Please zoom in on the thumbnail.
That shadow or depth are from all 4 corners.
Forgive me I am a beginner with Photoshop and don't even know the name for that effect.
Any help would be great.
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Choose a rounded rectangle marquee tool. keep feather to 60 to 80 px whichever suits your need ..... Draw the rectangle on the image leaving distance of 5-10 px approx more or less. Now press Ctrl + shift + i and fill the rectangle color with black or dark grey
First draw a dark grey or black rectangle on the image of same size . then Using the same feather options on rounded rectangle draw a rectangle leaving 5-10 px distance from all the sides. press delete and bingo.. U can adjust its opacity or try different blending options