I'd like to share my traumatic experience (and how to fix it) with you all, to hopefully help someone avoid the panic that I experienced last week.
I plugged my Ledger Nano S in for the first time in months, and went to log into myetherwallet.com. When following the steps I experienced a message which said "no compatible devices found". I assumed I just needed to update my devise, so I went through those necessary steps from within Ledger Live.
It wouldn't update - panic - It wouldn't repair - panic x2 - Then after numerous attempts in bootloader, it wouldn't do anything at all, displaying "update" on my screen but not giving me any other options - major panic.
I didn't want to order another Ledger and have to recover it with my seed - The thought of it worried me. I needed to fix it.
I scoured through reddit post after reddit post, forums, facebook posts, tutorials, etc... and nothing helped.
But then ... Some genius ... Who I cannot remember the name of ... Posted about booting my computer in "Safe Mode with Networking"
Having already tried every other angle I had nothing to lose...
I booted my computer in safe mode, went back into ledger live, and updated my ledger successfully. I was able to transfer the coins I wanted onto exchanges or different hardware devices, and recover what could have potentially have been a big loss.
I hope this helps someone else in my position.