You may render a drop shadow around the control in either of four locations.

Color The color of the shadow

Depth The distance of the edge of the shadow to the edge of the panel

Location You can select one of four locations around the control

ResizeWithShadow Normally shadow will reduce the size of the control client area by its size. You may choose to resize the control up with the size of the show so the client area remains the same

Softness Shadows are always softer than their source objects. The edges seem to blend with the environment. I've made an attempt to create softness by using a gradient brush on the edge of the shadow. In many cases this is not working very well. The softness value ranges from 970 to 1000.

Transparency Transparency might be a better property to soften the shadow.

Width Determines the width of the shadow, note that too wide shadow look unrealistic,,,