Is there a Recovery Key for encrypted external drives?
When you encrypt your startup disk with FileVault, macOS gives you a recovery key. Does macOS also create one for external drives? If not, would it be possible to make it create one?
Solution 1:
The short answer is no.
When you use FileVault, you are encrypting the entire boot volume, not just a single volume or folder.
If you're looking for something where you can encrypt a removable volume (i.e. USB drive), take a look at VeraCrypt where it allows you to have both password and keyfile authentication. It's also cross platform which is definitely a plus.