Syntax:
ALTER INSTANCE ROTATE INNODB MASTER KEY

ALTER INSTANCE, introduced in MySQL 5.7.11, defines actions applicable
to a MySQL server instance. The statement supports these actions:

o ALTER INSTANCE ROTATE INNODB MASTER KEY

  This action rotates the master encryption key used for InnoDB
  tablespace encryption. Key rotation requires the SUPER privilege. To
  perform this action, a keyring plugin must be installed and
  configured. For instructions, see
  https://dev.mysql.com/doc/refman/5.7/en/keyring.html.

  ALTER INSTANCE ROTATE INNODB MASTER KEY supports concurrent DML.
  However, it cannot be run concurrently with CREATE TABLE ...
  ENCRYPTION or ALTER TABLE ... ENCRYPTION operations, and locks are
  taken to prevent conflicts that could arise from concurrent execution
  of these statements. If one of the conflicting statements is running,
  it must complete before another can proceed.

  ALTER INSTANCE actions are written to the binary log so that they can
  be executed on replicated servers.

  For additional ALTER INSTANCE ROTATE INNODB MASTER KEY usage
  information, see
  https://dev.mysql.com/doc/refman/5.7/en/innodb-data-encryption.html.
  For information about keyring plugins, see
  https://dev.mysql.com/doc/refman/5.7/en/keyring.html.

URL: https://dev.mysql.com/doc/refman/5.7/en/alter-instance.html

