It might be helpful to look up "effective potential" in a Newtonian context. I can't recall where I saw this - probably Goldstein. Possibly MTW, but while they used it, I don't think they explained it.
Anyway, you write the differential equations of motion for the orbit, and you eliminate the angular part, solving only for the radial motion. Then you can interpret that differential equation of motion as if a mass were moving in an "effective" 1 dimensional potential. But basically, it's just a way of getting some intuition about the differential equation of motion.
From
https://users.physics.ox.ac.uk/~harnew/lectures/lecture17-mechanics-handout.pdf with changes in notation.
We can write the conserved Newtonian energy as
$$E = \frac{1}{2}m \left( \dot{r}^2 + r^2 \, \dot{\theta}^2 \right) + U(r)$$
Here a dot is used to represent differentiation with time, and U(r) is the potential of the central force, usually -GMm/r, and E is the energy, a constant of motion.
Now the conserved angular momentum L is L = ##m r^2 \dot{\theta}##. So we can re-write the energy equation as
$$E= \frac{1}{2}m \left( \dot{r}^2 + r^2 \left( \frac{L}{m r^2} \right)^2 \right) + U(r) = \frac{1}{2}m \dot{r}^2 + \frac{1}{2} \frac{L^2}{m r^2} + U(r)$$
So, this is a differntial equation in r and ##\dot{r}##. This is the same equation of motion that one would get for the mass m, moving in a different potential of ##U(r) + L^2 / 2 m r^2##. As I said earlier, this is just a way to help visualize the differential equation for r - rather than an abstract equation, one visualizes it as the motion of a mass m in the "effective" potential.
The analysis in GR is similar in concept and different in detail. E and L exist as conserved quantities in GR for a test mass orbiting a massive body, but the equations are slightly different.
I don't want to go into the GR case in this post. "Orbits in Strongly Curved Space-time",
https://www.fourmilab.ch/gravitation/orbits/, has a theoretical discussion based on MTW's textbook description in "Gravitation", plus some interactive java elements.