How to make a glowing picture?

From How to make a glowing text?

Is there a way to do it also on pictures ?

To show the wanted effect, an example is provided with a screenshot from Word, I can insert a picture, say a PNG with alpha layer, right click, Format Picture…, Effects (pentagon), Glow (presets), it will follow the contour of the picture (orange, bottom) not just create a rectangle around it (green, top).