The device you are describing is a Hardware Security Module (HSM).
HSMs are designed to manage, generate, and store cryptographic keys securely. They provide hardware acceleration for cryptographic processes, support symmetric and asymmetric encryption, and can serve multiple devices on a Local Area Network (LAN). In contrast, Trusted Platform Modules (TPMs) are more focused on a single host device's security, self-encrypting drives (SEDs) primarily encrypt data on their own storage, and network USB encryption devices are typically smaller and more limited in scope compared to HSMs.