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which are encodings that are in the Bios, does Microsoft not check this information to install the Windows OS?
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Windows will use this key to activate itself assuming they use OS edition that compatible with the key. And even if they formatted and used another edition & key, there are many identifiers to know that this laptop was yours before it was formatted. So any attempt to connect to MS servers and they will log the thief IP, but I don't think MS will hand you the last IP that used this key [or a new key] and attempt to activate using MS servers unless you bring court order tho.
Also check if your social/other accounts and if they offer the ability to log your login history, pretty much any major website [FB/twitter/github/gmail....] will have this feature and warn that a new IP was used to login to your account.
As for Find My Device feature of Windows it will work if you had enabled it before. it will send its location to you assuming they didn't reinstall windows.