Creating proximity falloff for shape key

Hi, I’m looking to recreate the following effect in Blender:

Having an empty’s proximity to vertices control a shape key. This maybe a simple thing for someone to do with animation node but I’d still like to pay for your time as is it ultimately for a paid project.

Thanks.

I found a method that works, thanks if anyone was looking into it. Here you can see the nodes I used in Blender.

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