It will open the command prompt where you can enter commands. If the product is activated using an actual product key, it will be displayed on the screen. It will also display other activation methods such as organization activation. If you have a digital key connected, it will show you that Windows is activated using a digital key. Some manufactures also include the Windows 10 product key on the product packaging, or the instruction manual itself.
If you also purchased a laptop that already had a Windows version installed, most probably you can find the product key just underneath the device in the form of a sticker or label.
Most of the devices nowadays ship with an operating system pre-installed.