If it is required to display the relief or altitude of a satellite image (as shown in the Google Earth application) the first requirement is to have a digital elevation model (TIN, DEM, MDT, etc.) on which the image will obtain the information of the relief, the application that allows observing an image (raster) in three dimensions is ArcScene, the same that is used for the development of this entry.
Two things are required for this practice: a satellite image (and even vectors) and a digital elevation model.
Now from the ArcScene application, upload the satellite image and digital elevation model (with the Add Data button).
In the properties of the image layer go to the Base Heights tab, then activate Floating on a custom Surface and select the digital elevation model corresponding to the image (figuredly it would be like throwing a sheet on the TIN/DEM to take its shape).
Optionally, in the Elevation from features section in Factor to convert layer elevation values to scene units: you can play with the values to obtain different forms of image distortion.
In this way, the relief of a satellite image (or any raster image with its respective TIN, DEM, MDT, etc.) can be displayed.