So this G Drive was working fine until you installed a macOS update?
Was this a minor point release update such as 14.1 to 14.4, or was a major OS upgrade from 13.x to 14.4?
Are you using the manufacturer's proprietary software to manage this G Drive? If so, did you use that software to enable full disk encryption on the drive? If so, then you may need to see if there is an update to that proprietary software since the old version may no longer be compatible with the updated OS.
Run DriveDx (free trial period) and post the complete text report here using the "Additional Text" icon which looks like a piece of paper on the forum editing toolbar. You will need to install a special USB driver in order to attempt to access the health information on the external drive. First thing is to make sure this G Drive appears to be physically healthy.
What file system was on this G Drive?
Is this G Drive used with any other computers?