This usually means the drive’s SATA to USB interface board failed. It’s very rare the drive has failed, although it does happpen.
If this is a WD Ware drive, there is hardware encryption you cannot turn off. The problem with these drives is the drive will appear blank to the system because what happens is there are no other drive controllers that support them encryption so the drive will appear empty. If it’s one of these drives, you will need to repair the controller or take it to a data recovery company if you do not want to find a tested drive of the same model to get your data off. I suspect you have one of these based on the age.
If yours is pre WD Ware, then you can buy a standard enclosure or USB interface with SATA and have access to your data. Hopefully you have one of these drives, so you can buy an enclosure or cable to read the drive again.