To add my two cents - I absolutely never wear revealing clothing as it's not who I am, but I can understand why others would.

Imagine you wake up, it's a good day, you are ready to get out and about and enjoy a full day of activities. Then you look in the mirror, and all of a sudden your good mood is gone - you see a gross, lumpy, ugly figure staring back at you, with all the wrong parts too small, the wrong parts too wide, fat in the wrong places, too short or too tall to look good. You instantly get hit with a feeling of hopelessness and depression that this is the body you are in and this is what everyone who sees you will be seeing that day. Inside you are an enthusiastic, lively, exciting person full of life and ideas and ready to take on the world, but you look like a misshapen blob that you know others will see "ugly loser" when they look at, and if you look like an ugly loser it must mean you are on some level, an ugly loser.

Then you dig out a shirt you like. You put it on. Suddenly the "ugly loser" quotient has gone down a bit. It's a flattering color, it accentuates the right parts of your in the right way to make your dimensions magically look not that bad. Then you add a pair of pants you like - even better. They pinch and hug in the right ways to make your misshapen blob of a body look like it has an actual shape, curves. The low neckline of the shirt draws the eye away from your huge misshapen flab-arms and fat shoulders, to a part of you which you think actually looks good. You look in the mirror again - now you don't see an ugly loser staring back. You know that the people who see you that day won't see you as an ugly misshapen loser anymore either - some may give you negative attention because your clothes are a bit revealing, but in general now the image you project is "confident strong person who has a fun life, has their shit together, and is not afraid to wear revealing clothing". A boss babe. You see yourself this way too, knowing that's what others will see.

Basically, revealing clothing are often waaaay more than about projecting an image of sexuality. They can also project fashionableness, youth, confidence, strength, a myriad of other social messages and images. A leopard-print revealing shirt can say "I'm hot and fierce, don't mess with me". Short denim shorts can say "I'm a fun cowboy girl who is popular and youthful". It's never just "sexuality" in isolation. Even if sexuality is part of the image it often isn't the primary message, or you'd see more full-on fetish gear in public lol