Found this: "Tip: Use keyboard shortcuts to tag files quickly—select a file, then use Control-1 through Control-7 to add (or remove) your favorite tags. Control-0 (zero) removes all tags from a file." here: https://support.apple.com/sr-rs/guide/mac-help/mchlp15236/mac.
While KM has far more options for managing tags, I notice for the first seven tags set as "favorite" tags, that toggling the tag on and off is a bit quicker using the type a keystroke action and Control 1 through 7 than using the set tags (toggle) action.
Also, the order of the assigned tag is different with the two method. Using the Control+ number key via a type a keystroke action places the tag before an existing tag while using the set tags (toggle) action places the tag after an existing tag. This will change the tagged item's sort order if you are sorting by tags.
The Control-0 to remove all tags is simply elegant.
While a fairly limited use case, this might be useful.