$ means "must match until the end of the line". .* means "match zero or more of any character". a* would mean "match 1 or more a's".
So
's/SCORE=.*$/SCORE=\r/g
means match SCORE (at any point in the line) plus zero or more characters, until the end of the line, and replace it with SCORE=\r. The /g tells it to do so multiple times on each line if there's more than one match, but if you're matching everything after SCORE= that's probably redundant.
Why the \r? That might be confusing the output since, when printed in a terminal, it will return to the beginning of the line without moving down one line, making it look like it's been deleted.