Hello,
Thank you for purchasing our theme and contacting us.
There is no such function in our theme and WooCommerce plugin by default. So you will need to perform simple code customization. Firstly you need to set up and activate basel child theme. Then add the following code snippet to the functions.php file inside this theme
remove_action( 'woocommerce_single_product_summary', 'woocommerce_template_single_meta', 40);
add_action( 'woocommerce_single_product_summary', 'woocommerce_template_single_meta', 25);
SKU word comes from WooCommerce plugin so you can change it in its POT file using Loco Translate plugin.
Kind Regards
Xtemos