  The production of K$^*$(892)$^\pm$ meson resonance is measured at midrapidity
($|y|<0.5$) in Pb-Pb collisions at $\sqrt{s_{\rm NN}}=5.02$ TeV using the ALICE
detector at the LHC. The resonance is reconstructed via its hadronic decay
channel K$^*$(892)$^\pm \rightarrow \rm{K^0_S \pi^\pm}$. The transverse
momentum distributions are obtained for various centrality intervals in the
$p_{\rm T}$ range of 0.4-16 GeV/$c$. The reported measurements of integrated
yields, mean transverse momenta, and particle yield ratios are consistent with
previous ALICE measurements for K$^*$(892)$^0$. The $p_{\rm T}$-integrated
yield ratio 2K$^*$(892)$^\pm$/($\rm{K^+ + K^-}$) in central Pb-Pb collisions
shows a significant suppression (9.3$\sigma$) relative to pp collisions.
Thermal model calculations overpredict the particle yield ratio. Although both
simulations consider the hadronic phase, only HRG-PCE accurately represents the
measurements, whereas MUSIC+SMASH tends to overpredict them. These
observations, along with the kinetic freeze-out temperatures extracted from the
yields of light-flavored hadrons using the HRG-PCE model, indicate a finite
hadronic phase lifetime, which increases towards central collisions. The
$p_{\rm T}$-differential yield ratios 2K$^*$(892)$^\pm$/($\rm{K^+ + K^-}$) and
2K$^*$(892)$^\pm$/($\rm{\pi^+ + \pi^-}$) are suppressed by up to a factor of
five at $p_{\rm T}<2$ GeV/$c$ in central Pb-Pb collisions compared to pp
collisions at $\sqrt{s} =$ 5.02 TeV. Both particle ratios and are qualitatively
consistent with expectations for rescattering effects in the hadronic phase.
The nuclear modification factor shows a smooth evolution with centrality and is
below unity at $p_{\rm T}>8$ GeV/$c$, consistent with measurements for other
light-flavored hadrons. The smallest values are observed in most central
collisions, indicating larger energy loss of partons traversing the dense
medium.
