The sense line is used by the radio to sense that a keyloader is connected and go into keyload mode. It's always pulled to ground on the keyloader side. Per the P25 standard, this is part of the three wire interface (bidirectional data, sense, and ground). In practice once the radio is in keyload mode, only the data and ground lines are required.
For example on the Motorola APX portable audio/keyload Hirose adapter - the onewire EEPROM is used to tell the radio that a Hirose adapter is connected, and the sense line is used to tell the radio if it will be used for audio or keyloading.
Other vendors use the sense line in different ways, or don't use it at all and require a menu selection to enter keyload mode.