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What happens if you type M:\ into File Explorer's path field and push return? Does it show the (empty) drive then, or an error message?
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If you open Disk Management (type "partition" into the start menu and it's usually the first match), does it show anything about that drive there?
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Make sure Opus isn't running Elevated or "run as" as a different user account to normal. (See Why NOT to run Opus as Administrator under UAC for more detail.) That can result in different drive letters to software run normally.