MediaKit reports not enough space on device for requested operation
The problem is that Disk Utility isn't able to reformat your drive from NTFS to APFS. You can format it to HFS+, then Disk Utility will pick up and do the rest for you. Here is a tutorial with detailed, step by step instructions: https://mycyberuniverse.com/web/how-fix-mediakit-reports-not-enough-space-on-device.html
Note that this will erase your entire disk (in case you have multiple volumes).
Summary of commands needed, in terminal:
diskutil list
diskutil unmountDisk force disk2
sudo dd if=/dev/zero of=/dev/rdisk2 bs=1024 count=1024
diskutil partitionDisk disk2 GPT JHFS+ &quot;New Drive Name&quot; 0g

Where disk2 is the name of your external drive, listed from diskutil list