LC is what it is and anything I know about it is in the manual I wrote.
It's not like some other CAM software. See page 18 of 23 in the manual for my definition of what Set layer Depth does.
Thus there is no "set material thickness". I guess if you wanted to have something appear in the graphics one could have a layer
which would represent the material foot print and set that to a some depth below Z=0.
BTW, it must be accurate as you are the one telling LC how deep to cut a layer.
RICH