Comments - Manually rotation of the innodb system table encryption key on MariaDB 10.5
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That does not work, and MySQL's encryption implementation, which came years after MariaDB has nothing in common with MariaDB.
This file_key_management does not support key versions and thus no rotations. ALTER TABLE is for user tables, but for system tables it does not.
So the answer is , you can't rotate encryption key with a plugin that does not support rotations.