Wet dog smell/taste

Usually dry aged steak is described as earthy, forest-y, blue cheese-y, funky, but never before “wet dog.”
There should be no mold if you use a modern frost free refrigerator in regular use located within a consistently room temperature environment. With charcuterie, some white mold may form and should be wiped off with wine vinegar. But fresh meat should not develop mold in a fridge that is managing humidity effectively. Also, the contact between UMAi Dry® and meat surface is optimized if you start out meat side down on the open wire rack, fat cap up. Gravity will ensure the best contact if you leave it that ways for at least week, before flipping over for the rest of the aging period.
Also, with UMAi Dry® we generally recommend trimming back to “grocery store red,” as you describe it. The “bark” is not recommended for consumption.