Adds a locator showing the true distance between the locator and the closest point on a curve, surface, or mesh.
Access this tool from the Locators palette:

Closest Point Options
True – The locator indicates the true distance from the locator to the closest point on a 3D curve, surface, or mesh in all windows.
Projected – The locator indicates the true distance from the locator to the closest point on a 3D curve, surface, or mesh in perspective windows and the distance from the locator to the closest point on the planar version of the curve, surface, or mesh in each orthographic window.
Closest Point tool workflow
Select the Closest Point tool.
Do one of the following:
Click a reference point, or a point on a curve, surface, or mesh.
Click a point in space to create a reference point.
Type 3D coordinates to create a reference point.
Click the object whose closest point you want to find.