One of the outputs of the processing workflow for RedEdge in ATLAS is a Digital Surface Model (DSM). A DSM is a representation of the elevation (in meters/feet above sea level) of the visible parts of the image. It is not a representation of terrain (unless the ground is bare).
Accuracy of the DSM generated by RedEdge can vary. Relative accuracy (for example, difference in elevation between the top of a plant or tree and the ground immediately adjacent to it) is very good (measured in centimeters). Absolute accuracy across large expanses of distance will be less precise.