What format is the drive now? You can get info on the drive, or launch Disk Utility, and that will show you.
Make sure that the View setting is for "Show All Devices", then select the device -- not a partition. The device will show the manufacturer's info, such as the model number. With the device selected, choose Erase. Change the format scheme to GUID, and the format to Mac OS Extended (journaled). And, finally, click Erase. You should now see all of the space.
If you still don't see the 4TB (or very close to that), and it is an external drive, then I suspect that your external enclosure is simply not compatible with larger hard drives.