When I have a drive attached to my PC (non-USB) it shows up fine in disk management and shows up fine when checking under "Computer" (where you see all your drives, and I can also use the drive with absolutely no issues. The problem is the drive label. Even though the label is set the drive is displayed in "Computer" as if it has no label. As seen in the image below, it shows up fine in disk manager (area 1) and in (area 2). But when opening up "Computer" it will not show the label correctly in (area 3) or (area 4)!
I have seen this issue happen before and usually a reboot tends to fix the issue. Before when it has happened to me it had to do with a thumb drive and this time it is a hard drive. I know some times it has to do with a hidden file on the disk/drive but that is not the case this time. There are no hidden FILES on the root of the drive.