Key activation is possible if your account has not previously had any subscription.
If your account had a subscription previously, you can create the new account and use the subscription on new account without any problems.
To activate the key, the region of your account must be one of the list below:
Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Colombia, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, Netherlands, New Zealand, Norway , Poland, Portugal, Saudi Arabia, Singapore, Slovakia, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, UAE, UK, USA.
If your region is not on this list, then you can use a VPN and everything will work as well.
Xbox Game Pass Ultimate includes:
– Live Gold
– Game Pass for Console
– Game Pass for PC
– EA PLAY
A complete list of games included in the subscription can be viewed at the link: