Large capacity external disk cannot be recognized

Check the Stellar data recovery software free version. If the drive is recognized there in the software, create a drive image so that you don't lose your data. 

Insert the drive into another system and attempt to format it using the Apple file system if it's recognized. Or just simply format it.

Once done, check back in your system.

Let me know if you need any help after that.

Use Apple's disk utility to check the external hard drive for errors. If will fix most non-access problems in the file structure, assuming that no partitions have been tragically damaged. Most of time use NTFS partitioning if you are storing info for both Mac and Windows on the same hard drive

Since diskutil list does not detect the drive, the issue is likely compatibility-related rather than a simple file system issue. macOS 15 may have dropped or altered support for U.2 interfaces, or your U.2 to Thunderbolt 3 adapter might not be fully compatible with the latest update.

Try checking System Information ( > About This Mac > System Report > Thunderbolt or USB) to see if the disk is detected at the hardware level. If it appears there but not in Disk Utility, the macOS update may have changed driver support. You could test with a different enclosure or adapter, ensure the latest firmware is installed, or roll back to macOS 13 if the drive is critical. Also, if the disk is NTFS, macOS can only read it natively—third-party software is required for write access.

Also, NTFS drives on Mac platform cannot be written to from Windows. Use Virtual Machine setup on Mac to be able to R/W from both platforms

What Mac software os did you upgrade to and from?