Level shifting 5V  3.3V
Edit: Forget the post above if you just want to know how your board is working. Your board is a retired Spurkfun product - clone.

Here you can see the schematics and all info about your board:

https://learn.sparkfun.com/tutorials/retired---using-the-logic-level-converter

Original post:

The module you got, use the BSS138 MOSFET.
The circuit is easy, and how @Majenko said, it has just 2 pullups:
See https://electronics.stackexchange.com/questions/367052/replace-bss138-with-ao3400a-in-level-shifter-circuit



But this board is really strange: what means TX0, TX1, RX0, RX1 on the same MOSFET? It is better if you can measure it to be sure how to connect the sensor to the TX.

But there is a better way to solve it: Since you just have 1 input to your ESP, why not use 2 resistors?
5V--- 1k --- 2k --- GND
And connect the ESP input between the 2 resistors? It is even faster, because the MOSFET need up to 20ns to change state.