Is the argument that I can get a key given a name and content and not
have to create an instance valid to have the static method.
No. In this case you almost do not need a class at all. You can always pass data members to class methods, but that does not mean that we do not need classes.
There is an additional argument - encapsulation. It is much clearer and niced to have an instance method getKey() with no arguments and hide the implementation details.
Or does the fact that a pair of name and content logically define an
instance say that an instance to be created and get a key from that?
Also no. The fact itself does not mean that you should create an instance.
The first question here is wether we need a class or not. Do we really have some meaningfull objects, instances of something (dummy)? For example, if I have a library, it obviously make sense to have a class Book, as I have lots of books around. Do you have such a situation? Is this key logically associated with an instance of whatever (dummy here), in a way that Author and ISBN are logically associated with a Book? Does instances of this concept (dummy) has some relationships with some other concepts? Like a Book can be rented.
If most of these answers is yes - than this method should be instance method with no arguments.
Or...
Do you maybe only need kind of a "service" that calculates a key from 2 strings? It this all you need? Are there some other similar "services" that you need, independent on instances. If these answers are mostly "yes", that you do not even need a class. Or you can have a class "Services", with no attributes and with this static method and arguments (and maybe additional methods).
There is also a mixed situation. You still need instances for some other purpose, but you also need a createKey method that is totally independent on any instance, and only provide some global service that is somehow related with the class logic. Then a static method can make sense.
I think your way of thinking is kind of function-oriented instead of object oriented. I think you need a "click" in your mind, which would help you understand the right purpose and the meaning of objects and classes.