MySQL Error 3807 – ER_BINLOG_MASTER_KEY_ROTATION_FAIL_TO_OPERATE_KEY

MySQL Error Message

Failed to operate binary log master key on keyring,
please check if keyring is loaded. The statement had no effect:
the old binary log master key is still in use, the keyring, binary
and relay log files are unchanged, and the server could not start
using a new binary log master key for encrypting new binary and
relay log files.

Reason for the Error

ER_BINLOG_MASTER_KEY_ROTATION_FAIL_TO_OPERATE_KEY
was added in 8.0.16.