Per one tech forum this week: “Google has quietly installed an app on all Android devices called ‘Android System SafetyCore’. It claims to be a ‘security’ application, but whilst running in the background, it collects call logs, contacts, location, your microphone, and much more making this application ‘spyware’ and a HUGE privacy concern. It is strongly advised to uninstall this program if you can. To do this, navigate to 'Settings’ > 'Apps’, then delete the application.”
It doesn’t do anything. The only reason to consider installing it is that this is cryptographically signed by another developer, so if Google tries to install safety core again, it will fail because googled signature is different. It also has a super high version number, so that Google hopefully will not think to try to install the software.