Update old security keys

I had Defender warning to update old security keys today.
I clicked "regenerate keys" and it logges me off. Than I re-logined and the warning was still there. So I did the same and warning was still there. So I click "Remind me to change my security keys every 60 days > update" and after re-login warning disappeared.
It was not for a first time (and not only on this website).

What happened?
Should I click "update" instead of "regenerate"?
Or there is some delay and you need to wait for a 1 or 2 minutes to see warning disappear?