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Can someone tell me know to acheive this letter edit in photoshop?
One way is using layer mask, create type layer then add layer mask and paint black where to want empty sspace. If you edit type you must edit and mask.
It looks like a stencil font to me.
Yes, it's Ravensara Antiqua Stencil Font | Webfont & Desktop | MyFonts
...but it is not free unfortunately.