"relativeScale" is the widget's scale in 'size' units: 1.0 means 100%. 2.0 means 200%. So for example if a label has a relativeScale of (30, 2), it means that it will be 30 times the localScale.x, and 2 times the localScale.y.
To get the pixel size, simply scale one by the other: Vector2.Scale(relativeScale, localScale).
Given the above example of (30, 2), if a label is using font of size 24, it means that its localScale will be (24, 24), and multiplying the two gives you (30*24, 2*24) = (720, 48) pixels.