This Geometry Nodes group provides a method for deforming a model using a secondary mesh. The deformation effect creates an inward squish at the contact point and an outward bulge around the edges. A dummy object is required to control the outward bulge area.
The provided .blend file contains a rigged model demonstrating the deformation, two deformer examples with their corresponding dummies, and an additional simplified example setup. The node group accepts inputs for the main deforming mesh, the dummy mesh, squish amount, bulge amount, and final subdivision level. For rigged models, the Geometry Nodes modifier should be placed after the Armature modifier in the stack.