SEGA calls it the "CD Gate Array", or sometimes just "Gate Array". It's easy enough to just call it the ASIC as people will know what you mean. It's a fully custom chip designed by SEGA (not an off-the-shelf part of any sort).
ASIC stands Application Specific Integrated Circuit. It's just a big old mess of gates in an array (hence, gate array) that can be connected in a manner you choose to make the circuits you want. They're like roms - programmable once at the factory, then set for life. Back in the old days, that was all you had for large circuits. They are still around today, and are cheap in bulk quantities. If you want small quantities or something that can be changed later, you go with a Complex Programmable Logic Device (CPLD) for smaller circuits, or a Field Programmable Gate Array (FPGA) for larger circuits.
The Gate Array is not the display processor of the SCD... the display processor is a small part of the Gate Array. It also handles all the memory interface, MD interface, sound chip and ram interface, etc. The graphics functions are possibly the single largest part of it, so people just refer to it when they mean the part of the ASIC that actually performs the graphics functions because it doesn't take as long to type.
