I created a new library and it works.
That means, that Photos seems to be installed correctly.
Perhaps the external drive, where you are trying to export the photos to, is not compatible.
Try this: While viewing your main Photos Library try to export photos to a folder on yor Desktop. Does that work? If yes, the file system format of your external drive may be problematic.
It is unlikely, that your main library is too large. One possible reason for problems after migrating to Phots might be incompatible file formats. You may have imported videos and image files to iPhoto that are now in Photos, but Photos cannot process them.
Try to export your photos and videos with from Photos with "File > Export > Export unmodified original" and nor with "Export > Export ... photos". This way, Photos does not need to process the photos and you may get better results.