I think you should try a different USB 3 storage device, and one that you have is the Synology drive.
If THAT shows the same problem, then that should help you to decide if the external device (or the cable) is the problem.
What I would try, in your case, would be to connect an older system that you can boot from, maybe the oldest system that you can use is Yosemite. I have a range of systems, on around a dozen external drives, bootable from as old as Tiger, up to several different setups for Catalina. (I do part time Mac repairs, so I have what I need to boot pretty old Macs, if I need to do that). I know that not everyone has the same needs for storage, but this might be a good opportunity to discover that path forward. Booting to an older system, and test what connection speed your WD drive has on a different system.