Hey Jeremy,
I’m having the same issue as Ryan – although no external media was used. I have updated ALL my other libraries, but this one is being difficult. I do have a ton of plugins, but all my other libraries use them too, and updated fine.
I tried option opening, new library then chose the library and it seems like it gets further in the update, maybe even finishes the update, but as it loads one of the projects in the timeline, it will crash – every time. I initially thought it was just timing out cause my library was massive with lots of events, so i cleared all my rendered files… but still nothing. Any help would be AMAZING. Thank you!