With this setup, the power requirements of the T7 (around 1A peak from a quick search) are added to the power requirements of the RPi itself. While that power supply should cover both (on paper at least), you are right at the edge. (Stay away from the WD mechanical drive-- it would consume even more power.)
I/O errors on SSD drives are typically caused by power issues (the SSD controller lost power mid-write). On the RPi4, I think the red power LED will blink (rather than remain constant on) when power is marginal. Am guessing you cannot see the power LED when the Pi is mounted in that case.
After it has been running for a while, enter:
dmesg | grep -i voltage
RPi4/Rasperian logs voltage warnings and the command above will filter them out.
The UPS wont make any difference as that only protects against house power failure. It does not alter what the power supply can deliver to the RPi and how much the RPi can deliver to the USB ports. Is anything else connected to any of the other RPi ports (aside from the keyboard)? The RPi paper limit is 1.2A (6 watts) for all USB devices >combined< (not per port).
If you can confirm its a power problem, then two possible solutions-- power the SSD via its own supply (annoying since that requires an external USB 3 hub which is one more failure point) or potentially a higher capacity power supply. Unfortunately, even a higher capacity power supply wont alter the USB 1.2A / 6W limit. Probably worth some google time to see how others are handling the power needs with external drives on the RPi4.