looks like a socket with a special pattern of the lock
That lock is to keep someone from stealing your spare tire. When you remove the lock then you will be able to slide the tool in the hole and let the spare tire down to the ground.
Most people keep the tire lock tool in the glove compartment. If it is not there check all the cubby holes and compartments that could hold it out of sight.
That is a lock system that can be removed with the key,so you can install the tire tool in it and let the spare tire down to the ground.
A key for a 2003 Ford F-150 spare tire typically resembles a small, flat, T-shaped tool made of metal. It has a unique pattern that fits into the spare tire lock mechanism, which is often located under the truck bed. The key may have a Ford logo on it and is designed specifically for that model to prevent theft of the spare tire. If lost, it’s recommended to contact a Ford dealer for a replacement.
If you want to remove the tire you will need a tire tool.
To remove a lock ring using a lock ring removal tool, first place the tool over the lock ring and ensure it is securely in place. Then, use a wrench to turn the tool in a counterclockwise direction to loosen and remove the lock ring. Be sure to follow the manufacturer's instructions for the specific tool being used to avoid damaging the lock ring or the tool.
Tire iron.
The best bike tire removal tool for easy and efficient tire removal is a tire lever. It is designed to help pry the tire off the rim without damaging the tire or the rim.
The best tire pressure tool for maintaining optimal tire pressure is a digital tire pressure gauge. It provides accurate readings and is easy to use.
A spindle lock is usually a small button or lever located on the power tool near the spindle. When activated, it immobilizes the spindle, making it easier to change accessories like saw blades or drill bits. It helps to prevent the spindle from rotating while you are changing the accessory.
You need the tool that came with the lock.
The most accurate tire pressure measurement tool available on the market is a digital tire pressure gauge.