I “was” also having this problem and discovered that my problem was that I had ‘locked’ my drive
the cue to me was
- If you are able to see the VCD than your drive is most likely locked. Please see the Unlocking a Drive section of Answer ID 3741: Setting up security to lock or unlock a WD external drive with WD SmartWare.
afterwhich I went to the system preferences and was able to see the VCD ( VCD stands for 'Video Compact Disc in this case my WD Passport), and then followed the intsructions to unlock my Passport at which time it reappeared in the finder.
My take away? When locking, encrypting, hiding etc. remember I did so and know how to rediscover it when I want to.
Hope this may be of some service.