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Use the ICP tool to enable the MTP encryption function. The related MTP setting is shown in Figure 1. After the MTP related setting, you can select MTP to encrypt the file. Then, refresh the data area and save the file to obtain an encrypted bin file, as shown in Figure 3. Then, select the Offline Programming Mode option in the programming options and the encrypted bin file will be programed in the Nu-Link memory, as shown in Figure 4. Finally, you can use offline programming to write the encrypted code.
For details on NUC505 encryption, refer to the following FAQ and document:
FAQ:

ICP Programming Guide:

Figure 1 MTP Programming Setting
Figure 2 Select MTP for Programming

Figure 3 Obtain Encrypted bin File

Figure 4 Select Offline Programming Mode in Programming Options