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EFS encryption does not use a key for encrypting or decrypting. It uses encryption certificate instead. This certificate is linked to user account and stored in registry. It may be exported to transfer acccess rights to another account.
EFS generates a random encryption key (FEK) for the file and uses FEK and the Data Encryption Standard X (DESX) algorithm to encrypt the data. DESX is a symmetric algorithm, so FEK is also used in the recovery process, and EFS should protect it from unauthorized access. To protect the FEK, EFS encrypts it with the user's public key using an asymmetric RSA algorithm and stores the encrypted FEK in a file. When a user opens and reads an encrypted file, EFS decrypts the FEK using the user's public key, and then decrypts the file data using the recovered FEK.
In a nutshell - each file is encrypted with its own key, this key is stored together with the file,
Some information is available in Russian but not in English: https://learn.microsoft.com/ru-ru/security-upda...