in the original translation the words "Heaven, earth, aversion. Great, small, return", as pointed out by another user, are similar to Leviathan's speech:
"Heaven and Earth, High and Deep, Birth and Return..."
the Light almost can be seen as a god, the judeo-christian god is also plenty of times compared to light; if we assume there are other leftovers from the FNC mythos, we could even say this Light is Bhunivelze; unfortunately its not mentioned outside of this song so there's not much to take from it.
"Heaven and Earth, High and Deep, Birth and Return..."
the Light almost can be seen as a god, the judeo-christian god is also plenty of times compared to light; if we assume there are other leftovers from the FNC mythos, we could even say this Light is Bhunivelze; unfortunately its not mentioned outside of this song so there's not much to take from it.
As to the first line. This is someone/something speaking directly to the Astrals. It is something which governs the very cycle of life, and granted the "stone". This most likely means the Crystal. Something that someone in Reddit noted was that "Petras" is actually plural; the singular would be "Petra". Also, the original Latin doesn't seem to use gender nouns, so I'm going with the original translation here rather than imposing a "he".
The next few lines are blindingly obvious; they're referring to the conflict between light and dark that's central of XV's lore. It also firmly establishes that while the "king" or "mighty warrior" will fell all before him, death will not be stayed.
On the whole, this looks like XV's lore through and through, and it implies that there is a power beyond the Astrals that likely equates to Eos itself. If XV's developers cared that much, they would've likely changed the lyrics. Developers have changed entire soundtracks before now, never mind the lyrics to a single song.
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Storm