I just wanted to format my usb drive, and followed an advice to use default "Disks" utility . But it failed and now whenever I try to launch GParted or Disks with USB drive inserted, they just hang for some time and then USB stick become disconnected and utility reports it can't find corresponding drive:

Moreover, it gets disconnected from system completely, so even lsblk
output doesn't list it:

Here is an example of it's output when stick was just plugged in:

When I stick it in after fresh reboot, all files are still there, and I perfectly can work with it. Still, after calling for GParted and being disconnected first time, if I replug it, it doesn't start properly as well, auto-disconnecting after some time.
Stick was working perfectly just an hour ago on Windows machine and my Ubuntu 20.04.3 system before I tried to format it, and works perfectly now after fresh reboot (until GParted called), so I don't think it's hardware issue.
I've done
sudo apt update
sudo apt upgrade
and rebooted; outcome is still the same - GParted just fail to list it.
I failed to find anything alike in other questions, so would appreciate if anybody can advice me with any clues how to format it and use properly.
UPD1: Following the suggestion by sudodus, I tried to make use of mkusb
tool from this advice, but it resulted with the following error:

UPD2: Regarding possibility of it being hardware issue with my USB stick. I've removed all other USB devices on my Ubuntu laptop and result is the same for all USB ports. Still, when I try it on another PC, this particular USB stick works great, and I can format it properly under Windows system, write there some data and then read it back on my Ubuntu system. So I believe stick itself is totally healthy and there is some issue with my Ubuntu & ThinkPad. For some reason system seems just fail to recognize stick back after unmounting it during formatting process.