In The Escapists, it has no use. Therefore, the item should not be taken if found, as it is still contraband.
In The Escapists 2 the Circuit Board is used to craft Keycard Mould, so for some multiplayer escape ways it would be necessary (for example, the "Glide To Victory" way) unless the Keycards are directly used.
Can be found in desks or inmates' pockets. In The Escapists, it is only found on Mobile and Console versions.