I am not sure I am clear. Were you able to actually boot the T5 as your startup disk before the update? Did you allow the update that was downloaded to go through the whole installation process? It can take 30-45 minutes or more for an update to be installed. It will go through two installation black screens with an Apple logo. Each stage can take 20 minutes or more. After the Apple logo, maybe a couple of minutes each time, you will see a loading bar with a time estimate for installation completion in each phase.
When you use Disk Utility, make sure to have it set to "View/ Show All Devices", so you can set the Scheme to GUID Partition Map. Disk Utility by default is set to "View /Show Only Volumes". This needs to be changed to "Show All Devices" to properly format your T5. Choose the "Samsung Portable SSD T5 Media" in the Disk Utility sidebar and choose "Erase" at the top then choose, Format: APFS and Scheme: GUID Partition Map click on "Erase" at bottom right.
"View" is in the upper left hand corner of the Disk Utility window. Make sure the Partition map is GUID not Master Boot Record.


