My iMac is stuck while trying to select a Startup Disk after memory and data wipe, please help.
This is for my iMac 27-inch 5K Retina, (Late 2015)
In my situation, my iMac has been recently performing very slow. Apps took over a minute to launch, there were choppy animations when resizing open windows, spinny-wheel cursor encounters, and crashes every single time i try to update to from Monterey 12.6.6 to Monterey 12.6.7. I had already previously moved all the iMac's data to my MacBook so I was okay with wiping everything off it to get it into working order again. I had used the Disk Utility menu to clear off everything from the iMac, all my accounts, photos, and data, including the Macintosh HD Disk. After the deletion process everything looked good after. I had rechecked the Disk Utility and had seen my internal Disk's name has changed from "Macintosh HD" to "APPLE" with a bunch of numbers. I didn't think much so I went to reboot the computer to attempt to get to the home screen to check on everything. I exited Disk Utility and was greeted by a pop-up that prompted me to select a Startup Disk. Nothing showed up, just an infinite loading icon with an empty area below it. I restarted the computer while holding 'Command'+'R' and had a different screen show up. It was a globe symbol with a bar that asked for a WiFi connection and I had connected my iMac to the internet as prompted. It took me to a grey screen with a new pop-up saying "⚠️ Storage system verify or repair failed. (-69716)" I closed the pop-up and 2 new pop-ups came in. One was the macOS Update Assistant saying "Updating:" but was stuck at zero. and a new window below it asking once again to select a Startup Disk, to which of course there were no selections. I've conducted First-Aid checks on everything and it all came up with no problems, and now I'm lost from here on out. I don't know if i can get this computer to work again.
I had seen the option to use Target Disk Mode but I have not tried it yet, I'm saving it as a last resort. Is there anything else I could do to bring the computer back? I'm not looking for file recovery I just want to have it ready for future use again.
It has been almost 3 days since this problem started, I left the computer on for nights hopefully waiting for macOS Update Assistant to do anything but there was no avail. This is the first time I have ever submitted a question to the Apple Support Community. I hope someone on here knows how to help me.