Graphical view is the visualization of relations between assets with links and references.
You can see the graphical view of assets by clicking Graphical View on asset detail screen.
Depth determines the number of edges from the node. For instance: Depth 1 is A → B, depth 2 is A → B → C
Include referenced assets on graph is to see referenced assets on graph, un-check to see only generic linked assets.
Only this asset's references is for to see referenced assets of just main node asset on graph.
You need to click Regenerate Graph to see your filter changes on graph.