Nope
WD My Books feature Hardware Encryption so you can’t just simply remove the hard drive from the enclosure and put it in another one to access your data.
The only option that will appear if you do so is to format the drive (which you’ve discovered)
In saying all of that … some users have been able to “decrypt” data on the WD My Books when they’ve been removed from the enclosure, but it requires the use of Linux. (links to guide in the topic below)