Technically if you ignore the USB portion of the drive @Tom-9560
Then its storage passthrough and nothing at all to do with USB.
That being said, I don't believe the process is anywhere near "nightmare process" and 20 steps.
Plug drive in, offline to host, edit VM settings and done it now has a extra hard drive ready to go (formatting not included)
Course it would be nice to be able to do USB device passthrough.