iMac failed to complete power-on boot. No volumes shown in macOS Utilities
2017 iMac, unable to boot far enough to see software version, but has been updated to most recent available version. On power-on, system starts to boot but does not complete. Progress bar gets to approx 95% but then screen shows circle with diagonal line and text of "support.apple.com/mac/startup". Managed to boot into recovery, but will only run Internet Recovery. Was unable to do "Restore..." or "Reinstall..." either with or without external backup drive connected. All utilities fail to show icon for any disk, so am not able to complete any recovery. Terminal app is available but I am not knowledgeable enough to know what or how to try. Can someone please help me get this fixed? I need explicit instructions on steps to take, because I am no expert.
iMac 27″ 5K, macOS 13.7