Same process.

The bump map channel has three modes bump (give illusion of depth), displacement (actually displaced the geometry), and normal (once again just give illusion of depth but is based on actual geometry instead of a grey scale image).

From the height map it appears to have far less data then the other map. But the process is exactly the same. Just chose the displacement option from the bump drop down menu.

As I said I don't have any experience with displacement so I don't know if you have to already have the necessary mesh density or not. You will have to experiment with it. All the stuff I did is exactly what you have to do except select displacement instead of bump.