Razer Huntsman Elite - "Y" key is not working and Underlight keeps blinking

I have been using this keyboard for awhile now.
Suddenly “y” key did not work and underlight/glow blinks really really fast.

Steps I have done so far: 

1. Cleaned the keyboard
2. Done the reset (ECS + Caps + Space)
3. Updated firmware of both the unit and upgraded to synapse 4
4. Check if key is associated with MACRO , but no macro saved.