Refomating and external SSD

Hi All,

I'm formatting my SSD and followed the instructions using Disk Utility. When I click on the disk I get this in return with a blue and red bars, is this correct? The drive is 2TB, both blue and red bars red 2TB. I'm used to HDD and it usually just shows one bar with amount of data used.

I want to further portion the drive and get the circle with 2TB on each side.

Is this graph correct? Why is there 2 sections here?

Thanks in advance for your help.

Jason