Speaking of local connections:
It is possible to turn some computers into USB 'devices' – although regular USB is asymmetric and most desktop/laptop PCs don't have the hardware that would support that, but some "Pi" nano-computers do have dual-mode USB controllers, and you can find instructions on setting up Linux "gadget mode" so that such a Pi could work like a USB stick.
I'm not sure about the capabilities of Thunderbolt – I know it can do peer-to-peer connections for transporting Ethernet, but no idea whether it can do that for storage.
Older Macs used to have FireWire, which was a symmetric connection (like USB4 and even more so) and did not require any special hardware for a computer to become a 'device'; as a result, many Mac laptops had a hidden "Target Disk Mode" built in. You could hold a certain key while powering it on, and the entire laptop would show up as an external disk across the FireWire cable.
(Some new Linux distributions have a mode that imitates this by booting directly into an "NVMe-oF target" mode that serves the system disk over Ethernet.)
Such things are more commonly done over the network – although, of course, storage over network requires cooperation from the client as well, but the end result is still that you have a "disk" showing up on the client computer that can be partitioned, formatted, etc.
The NVMe-oF and iSCSI protocols are commonly used for network storage (just like regular NVMe and SCSI are used over direct connections).
Windows XP/10/11 can be an iSCSI client ("initiator"), while Windows Server can also act as an iSCSI server ("target"). It's also common to set up Linux or even Solaris as an iSCSI server; many NAS devices have an iSCSI feature. I've even seen software that makes CD-RW drives available over iSCSI for remote CD burning.
Since it all works through client/server cooperation, any number of protocols can be made; e.g. there is also ATA-over-Ethernet (rare, Linux-specific); there is NBD (also Linux-specific); there used to be a MS-DOS program for disk-over-Ethernet access; old SunOS had the 'ND' protocol before NFS was invented; etc.
All of those were "disk sharing" protocols that made the client pretend it had an external disk, as opposed to file sharing like NFS/SMB.