Members of the Church of Jesus Christ of Latter-day Saints (Mormons) are not henotheists as we do not believe in gods outside of the one-ness of the Godhead.
Romans 8:17 talks about becoming heirs of God and joint heirs with Christ. The best way to understand the LDS doctrine of man becoming gods, is that through faith in Christ who overcame the world, repentance, and obedience to His commandments we can become joint heirs and inherit all that the Father has. This might include some modicum of authority in His presence and under His direction, mirroring the oneness of purpose found in the Godhead.
This doctrine is often imagined to be, by those mostly outside the faith, as meaning that heirs of God will rule over their own planet. I don’t have an encyclopedic knowledge of my faith but know of nowhere in LDS canon where this is stated. It does say in the Doctrine and Covenants: “and shall inherit thrones, kingdoms, principalities, and powers, dominions, all heights and depths”. In light of being “heirs of God and joint heirs with Christ” this is not a hard doctrine for me to accept, but exactly what this means we really don’t know. Nor am I overly worried about it as I’m focused on overcoming the sins and weaknesses that daily plague me and that daily inspires my faith in Christ and the grace God offers us because of the merits of His only begotten Son. I’m just trying to be a disciple. I really suck at it but have hope in Christ.