Pilebunker is, in a sense, Slayer's "goal" in a match. It is his central high-risk high-reward move that can change an entire round due to its damage and combo potential in the corner, but as such, it is tricky to land practically due to how unsafe it is on block, as well as the fact that Dandy Step is a highly telegraphed move. In most cases, Slayer needs to use his intimidating plus frame moves like f.S and 5K to first condition his opponent into respecting his offense, then catch them with Pilebunker when their mental stack is pressed. It's important to note that you shouldn't rely on Pilebunker for this, and Slayer has many other ways to punish the opponent for tunnel-visioning on defense (e.g. Bloodsucking Universe and regular throw). Think of Pilebunker as your ace in the hole, and you need a proper board in order before you can play it. To make this easier, you can confirm into Pilebunker if you're willing to spend the Tension on a Red Roman Cancel. This can often be done off of many Counter Hits.
Because the properties of Pilebunker change depending on which Dandy Step they’re performed out of, his options and routes will also change. “P Pile” sends the opponent flying away on regular hit, and wall bounces on Counter Hit. “K Pile” has longer startup, but causes wall splat on regular hit, and tumble state on Counter Hit.
K Pile is generally preferable for both starting and padding out combos, as the wall splat acts as an extender that lets Slayer combo into moves with big return. Most often this will end in 2D for corner pressure, or lead to 5D6 and his devastating Dust Chase combos.
P Pile is the faster of the two, and while it doesn't give nearly the same return without Roman Canceling it, it will almost always send the opponent to the corner. Additionally, 6H > P Pile is universal, and an essential conversion to keep in mind due to how useful 6H is in neutral (for its hurtbox and distance) and pressure situations (pressure resets and frame traps).