I am not sure what do You mean but if You have this PNG you can make a tree from planes. This will be very light in terms of performance.
Create from this PNG textures like diffuse and alpha(opacity) and place them on planes. Separately bark, branches, leaves etc.
Then create from those planes a tree by moving them.
Is this what You were looing for ?
you can Rightclick on it in the content browser to create a sprite. Click “edit source reigon” and then limit it to one part. Double click to make sure it’s exact. then Ctrl+click and drag to create new sprites. Continue until you have all the parts of the sprite. Then place them.