Here are a couple of simple solutions. I'm assuming points with the same ID are at nearly the same location.
If the points with the same ID are supposed to be at the same location, try snapping them to exactly the same location with the one of the snap tools (snap geometries to layer
or snap points to points
).

When two points are in exactly the same place QGIS will usually only label one of them.

Use the point cluster rendering symbology type. This generates a symbol with two layers: a point marker and a font marker. Change the font marker portion of the symbol to display the ID field.

It's worth noting (as Erik pointed out in the comments above) that duplicate geometries are not a best practice. It might be better to rearrange your data to have a single point at each location, and multiple depth fields for each point, eg "Depth1" "Depth2" "Depth3" etc. The snapping tools and the aggregate
tools might be helpful for this.