It's unlikely to be inside the TPM. The way pretty much all TPMs store data is to use a key inside the TPM to encrypt data stored outside the TPM, because the TPM is a repurposed smart card with barely any storage or capabilities outside of DRM. Bitlocker is an extreme example of this, but things like Fapi_CreateSeal()/Fapi_Unseal() also store the sealed item outside the TPM even though they appear to be using the TPM for storage. So what you do is the same as what Bitlocker does, use the TPM's storage root key (SRK) to seal some master key (in Bitlocker terms the VMK) and the master key seals the encryption key used, which is also sealed with some user-entered emergency-access password or whatever that still gives you access if the TPM dies.

OTOH for SSH use if you lose the key you just create a new one, it's not like you've lost the only copy of your Bitlocker key.