You need a compute terrain for the major cliffs, and after that you can add lateral displacements by redirect (XZ, using displacement power fractals), or vector displacement shader with color/greys as input. The smaller you make the patch size of the compute terrain, the sharper/more defined the laterals can be. A compute normal can also be used.
I made you a 2 minute sample. You can play with the order of stuff and masks and such.