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jscol is correct. I was hoping you could simply click on the drive in finder and it would open it. That does not work, so the next step is to download the latest installer. He gave you a link to the file hosted on the Samsung site. If you can't download it, then try this link. Version 1.6.9 | 24.2MB DOWNLOAD

Download the file and install it. It is a newer version of the installer you are finding incompatible.
Ok, I did this. I downloaded it, and it restarted my computer. And then, again, it led me to the same place, see pic:
 

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I don't quite follow what you're asking! If you download the installer I linked to, it will install the latest Samsung software for the T5 that runs on M1 Macs with Monterey. The fact that you're getting an 'Incompatible Package' alert and are being prompted to download Rosetta suggests that you are not using the correct installer for an M1 machine.
I downloaded it, and after it restarted my computer, it eventually led me to this again...
 

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Ok, I did this. I downloaded it, and it restarted my computer. And then, again, it led me to the same place, see pic:
Did you download the file the jscol posted or that I posted? If so, did you open that file and run the installer that you downloaded? Do not use the installer on your drive. Open the file that should be in your downloads folder. Should look like the one below...
Screen Shot 2022-01-04 at 9.00.29 PM.png
 
Ok, I did this. I downloaded it, and it restarted my computer. And then, again, it led me to the same place, see pic
That looks like it is trying to open an old installer (2017!) that's on your T5. You don't want to open that!

If the installer we linked to has worked, you should see a SamsungPortableSSD app in the Applications folder on your Mac. Click on that app.
 
I'll post this again if you can't get the NEW Samsung software going:
If you have an Apple Store anywhere near, make an appt. for the genius bar.
Take along the iMac and BOTH SSDs.
They may be able to get you going again.
 
Yes I installed the correct one, the one in my downloads that says today. I used the link you posted. The installation was successful, it restarted my computer. Then, it asked me if Im a resident of Europe or something and I said no. Then, it immeditately said disconnected:
 

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I'll post this again if you can't get the NEW Samsung software going:
If you have an Apple Store anywhere near, make an appt. for the genius bar.
Take along the iMac and BOTH SSDs.
They may be able to get you going again.
Thank you I may have to do that. I'm hoping not to have to, so trying to see what I can do on my own first.
 
That looks like it is trying to open an old installer (2017!) that's on your T5. You don't want to open that!

If the installer we linked to has worked, you should see a SamsungPortableSSD app in the Applications folder on your Mac. Click on that app.
Yup, did that. Went to downloads file and installed the correct one. Still trouble unfortunately..
 
Yes I installed the correct one, the one in my downloads that says today. I used the link you posted. The installation was successful, it restarted my computer. Then, it asked me if Im a resident of Europe or something and I said no. Then, it immeditately said disconnected:
With the Samsung app running, plug the T5 in (preferably direct to your MacBook rather than via a hub) and click 'Refresh'
 
With the Samsung app running, plug the T5 in (preferably direct to your MacBook rather than via a hub) and click 'Refresh'
What do you mean by hub? I just have the regular cable the Samsung came with...
 
When you ran the installer, did it ask you to authorise the extension in System Preferences -> Security & Privacy -> General?
 
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