A nice man from SanDisk Professional was able to solve this issue for me. However, my problem involved different hardware:
- Mac Studio
- G-RAID Shuttle 8 48TB
It would mount on the desktop via the USB-C ports at the front of the Mac, but not the Thunderbolt 4 ports on the back. Seems it a drive issue with Thunderbolt, as you even mention in your question it's a USB driver that we're told to install. A simple update to the driver fixed that, though it's an update that doesn't appear to be publicly available.
From the link below - click 'G-RAID 4/8 Software Utility', then download and install the Mac M1 Driver (TB3 Only model):
https://support-en.sandiskprofessional.com/app/downloads
Once installed - and you've 'allowed' the extension in System Preferences and a restart - in 'System Information' you should notice the extension is PromiseSTEX 6.2.16, instead of 6.2.13, and it should now be loaded.
Hope this helps - though hopefully you've already solved this in the last 40 days!