The
datasheet I found suggests that the E4C-TS50 just reports the presence or absence of a target. It isn't a rangefinder, which is what the LabVIEW Ultrasonic Sensor functions are designed for.
The sensor has an NPN output which activates when the sensor 'sees' an object. That output should be wired to the SIG pin of one of the DIO connections on the Digital Sidecar, and it will be read as a digital input.
Did you want a sensor to tell you the distance to a target, or is the simple yes/no reading from the TS50 what you need?