is there a reason you can't just boot from usb? it sounds like the perfect match. I've built immutable bootsticks in the past that run in ram only (but with other distros). hetzner for instance lets you rent usb-sticks for their dedicated servers
Also, an external dangly thing is asking for trouble (getting dislodged). An internal device solves this.
In any case, the Talos people seem to recognize this as a problem and are working on it.