How to do a stepped down engraving

I am looking for how to do a “stepped down” engraving like the attached pic. Any help would be appreciated!

Pic:

It’s not quite clear to me what is engraved in the photo you attached.

Classically, if you want to etch things to different depths, set each level up as a layer with more or less passes as needed.

That makes sense… this piece of metal has a beveled edge kind of… You can see it on the outer part of the metal…