Could very well be the external drive has a hardware failure of some sort (or the cable, or any hub/dock/adapters used with it).
Other externally connected devices could also be interfering, so disconnect all other external devices to see if that makes any difference. Also connect the drive directly to the computer. If it is already connected directly to the computer, then try using a powered USB3 hub to connect the drive to see if that makes any difference.
Have you tried rebooting your computer?
Or tried accessing the drive while booted into Safe Mode? If you are using a third party driver to manage the external drive, then Safe Mode is not an option since it would disable that driver.
You may want to check the health of the external drive by running DriveDx (free trial period). You will need to install a special USB driver in order to allow the necessary communication to attempt to access the health information of the external drive. Post the complete DriveDx text report here using the "Additional Text" icon which looks like a piece of paper on the forum editing toolbar so I can review it. I highly recommend checking the drive health since you do not want to be touching this drive if it is failing.
FYI, if this drive contains important & unique data, then you should be backing up this drive frequently & regularly.