Hi Hoi,
Here is an example file. Personally, I would use the XPresso option to do that, check the Deform option in the Point Node.
If you go to the Constrain tag and un-check the Lock Position, see what happens! (while in Play mode) Yes, this is certainly not always the case, but ...
Scene file
https://www.amazon.com/clouddrive/share/nNYjyOV89JRDV6djSI49ZkkuA2D96fBNzZxwpgSnmo4
All the best
P.S.:
In the Clamp setting, the distance should be zero, not 1.695 cm, sorry about that.