Service Account Key is a private key (user-managed key pairs for a service account) to be used to authenticate with Google APIs.
Visit the link below for detail explanation.
https://cloud.google.com/iam/docs/service-accounts#user-managed-keys
Because the private key lets you authenticate as the service account, having access to the private key is similar to knowing a user's password. The private key is known as a service account key.
Service account keys can become a security risk if not managed carefully.
Visit the link below for detail explanation.
https://cloud.google.com/iam/docs/best-practices-for-managing-service-account-keys
The team of rotatiing of service account key are defined as the following:
Service Account Key will be provided in the following file format:
<GCP-Project id>_<Service-Account name>_<Created Date in yyyymmdd>.json