Unfortunately, FusionAuth does not currently support using AWS IAM authentication for database connections or automatic rotation of database credentials. There is an open issue tracking this feature request:
GitHub Issue #973.
For now, this functionality would need to be handled outside of FusionAuth. For example, an external process or tool could be used to manage the generation and rotation of AWS IAM tokens. This might involve periodically restarting FusionAuth on a rolling 10-minute basis to ensure it picks up the updated credentials, or implementing a custom solution that works in conjunction with FusionAuth to manage database authentication. However, such approaches would not be officially supported by FusionAuth.