WD external hard drive has switched to read only
I turned on my iMac today and suddenly, my WD external hard drive has gone read only. It's been making Time Machine back-ups for years, and today, it just stopped working.
I've confirmed I have read and write access (right-click on the drive), although in Disk Utility it says Users Disabled. I have even reformatted the drive.
What now? Why is this even happening?
iMac 21.5″ 4K, macOS 13.7