The fourth (at the 9 o’clock position) will pull or push the cone closer to or away from you. Three of the handles will rotate the cone in space. When you release the button, a box will surround the object, with four circle-shaped handles.
It’s a little confusing, but you’ll get the hang of it. Paint 3D assumes you’ll want to paint the Canvas first, then create 3D objects. Microsoft’s Paint 3D interface: Tools, 3D Objects, Stickers, Text, Canvas, and Effects.