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:
With alignment with Group Security, service account key will need to be rotated every 365 days (starting from the creation date of the key).
Service Account Key will be provided in the following file format:
<GCP-Project id>_<Service-Account name>_<Created Date in yyyymmdd>.json