sp64701.exe is an HP SoftPaq executable used to update the BIOS/System ROM on HP Z420 and Z620 Workstations . Specifically, it contains BIOS version 1.23 (associated with binary files like J61_0123.BIN J63_0123.BIN HP Support Community Safe Installation Guide To avoid "bricking" your workstation, veteran users on the HP Support Community
You most likely acquired this file in one of two ways: sp64701.exe
"The file sp64701.exe is an HP SoftPaq that updates the Intel Thunderbolt 3 security settings and driver compatibility on supported HP business notebooks." sp64701