A search for $CP$ violation in the Cabibbo-suppressed $D^0 rightarrow K^+ K^- pi^+ pi^-$ decay mode is performed using an amplitude analysis. The measurement uses a sample of $pp$ collisions recorded by the LHCb experiment during 2011 and 2012, corresponding to an integrated luminosity of 3.0 fb$^{-1}$. The $D^0$ mesons are reconstructed from semileptonic $b$-hadron decays into $D^0mu^- X$ final states. The selected sample contains more than 160000 signal decays, allowing the most precise amplitude modelling of this $D^0$ decay to date. The obtained amplitude model is used to perform the search for $CP$ violation. The result is compatible with $CP$ symmetry, with a sensitivity ranging from 1% to 15% depending on the amplitude considered.