Use the Quick Engraving toolpath. I set the depth/pressure at 25% to 50% of the total travel available in the tool. However, I've done some testing, and on acryllic, it makes very little difference. Fill stepover does affect the result. I use .005" to .012" depending upon the size of the picture.
In the Tool Database Tool list, you find Engraving way down the list. There is a diamond drag tool listed. The Geometry and Cutting Parameters entries affect only the preview, they do not change what the machine does. (See the toolpath description in Help, Help Contents.) Spindle speed should of course be zero (Turn off or unplug the router.).
I find the Quick Engraving toolpath preview to be very poor. If I want to get an idea of what the result will look like, I use a VCarve toolpath for the preview.
If the panel is to be edge lit, be sure to mirror your scene and cut it on the back side. Otherwise you will get a reflection from the back that makes you see double.
Here's my post on the test I made to check out different pressure/depth setting and stepover with a diamond drag tool. The lower squares are brighter because they are closer to the LEDs.viewtopic.php?f=3&t=26050&p=186657&hilit=diamond#p186657
These test squares are 1/2" square. Total available depth of travel for the tool was1/2"
The example below was cut with a VCarve toolpath, 90 degree V bit, .03 flat depth, .005 stepover, before I got my diamond drag bit.
Good judgement comes from experience.
Experience comes from bad judgement.