You may either exclude or include Iron Key encrypted drive.
Insert Iron Drive.
Now open Device Manager.
Locate Iron Drive > Right-click it and select Properties > Details tab > Hardware Ids
Note down the VID and PID.
Open Group Policy.
Computer Configuration > Administrative Templates > Windows Components > BitLocker Drive Encryption > Removable Data Drives
Double-click Deny write access to removable drives not protected by BitLocker. > Enable it.
Click Show next to Configure allowed devices.
USB\VID_xxxx&PID_xxxx
Ok/Apply.
Open Command Prompt as Admin and run:
gpupdate /force