On the text layer, with the Shift key down. Magic Wand the alpha.
Make a new layer, apply Bevel Selection.
Make a new layer, invert the selection, apply Bevel Selection,
but switch the Highlight color to black, and the Shadow color to white.
Press Esc to deselect.
Apply True Blur - Radius 1, to both bevel layers.
Adjust layer opacity.
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Start with oversized text and resize down as a last step, for a sharper look.