why is my recent purchase of 2TB storage not showing

Might you be referring to iCloud Storage? System Storage and iCloud Storage are two separate things, and cannot be compared. System Storage is your device's local storage and cannot be increased, which holds all your data including messages, emails, apps, calls, and more. While iCloud Storage is stored in the cloud and can be increased, which holds your backups and syncs your data across devices.

If you are running low or out of System Storage, that would mean the iPhone you bought is inadequate storage for your needs. As a result, next time purchase an iPhone with more storage so you won't run out.

Read this: What's the difference between device storage and iCloud storage? - Apple Support

Hello!

This storage was for iCloud, not for on-device storage. On-device storage cannot be increased. However if you don’t see it in iCloud where you expect to see it, report back.