How do I use the "Custom Time Dilation" node?

Hello, I have tried looking around to find an answer to this and all the old forum entries had screenshots attached that are no longer viewable and the text didn’t help. (documentation also didn’t help)

What I basically want to do is, have a grenade that, when it explodes, slows the time in a set area around it, but only for the actors in the area of effect.

Currently I don’t know how to use this specific node, which I think is the key to it.

Have a look here:

Thank you very much. After trying around it seems to be partially what I was looking for.
But it seems I can’t throw the sphere like a grenade.
I think I will have to try some different things.