Hello ARSSONIST.
Thank you for using Apple Support Communities. It sounds like you're unable to use your USB accessory with your Mac. Specifically, you're getting prompted an error message saying that it's not readable by your Mac. If this is the case, we'd like to look into this issue with you.
Has this USB accessory ever worked with your Mac before? If you connect your USB accessory to a different Mac, does this specific error message continue to populate? This information can help us further isolate if this issue is linked to your USB accessory or your Mac.
We did see in the screenshot you shared with us that you're able to see your USB accessory in Disk Utility. If you select "First Aid" what happens? If you haven't tried that yet, try repairing your disk:
How to repair a Mac disk with Disk Utility
Repair a storage device in Disk Utility on Mac
If there isn't any important data on this USB accessory, you can try to erase it and reformat it using Disk Utility. Just in case, the following link has more details on how to accomplish this task:
Erase and reformat a storage device in Disk Utility on Mac
We hope this information is useful. Best of luck.