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Hi
Here's one way to do it without the Pen Tool, it's not the same as the image you supplied but should give you some idea
OK first thing I did was create a new layer and added a color to it then setup some guides, hit CRTL R to show to rulers
Then added another new layer and created a shape using the elliptical marquee tool and filled the shape with a lighter blue color
View attachment 72023
Next I added more guides and used the rectangle marquee tool to draw a square and again added a slightly lighter blue color and used the free transform tool to change the shape of the bottom part
View attachment 72024
Then I made a selection of the Top layer and inverted the selection using CRTL + SHIFT + I and added a layer mask to that layer
View attachment 72025
Then I made a copy of the main layer and again resized that using the free transform tool
View attachment 72026
View attachment 72027
And then I changed the color of that layer to white, after that I made a copy of the top layer and moved it down to the top of the white layer, you'll need to drag that layer above all the other layers, then I just resized it and change the color to a slightly gray white
View attachment 72029
Result
View attachment 72030
P.S. this was done pretty quickly and only as a demonstration so it's not perfect and I had a few of these :beerchug: