Modbus rs485 and w5500 ethernet component

Looking through the forum on past topics that were slightly related I tried adding:

external_components:
 - source:
     type: git
     url: https://github.com/JeroenVanOort/esphome/
     ref: eth-w5500
   components: [ ethernet,network,api,esp32 ]

ethernet:
 type: W5500
 clk_pin: GPIOx
 mosi_pin: GPIOx
 miso_pin: GPIOx
 cs_pin: GPIOx
 interrupt_pin: GPIOx
 reset_pin: GPIOx
 clock_speed: 30Mhz

which was in reference to the topic: How to use w5500 Ethernet module with esphome - ESPHome - Home Assistant Community

as other users have commented that the included ethernet component wasn’t working directly. I tried all of these yaml configurations on current version of ESPhome builder and ESPhome builder dev and it still doesn’t work.

However, when I added this to my yaml configuration, compile rejected stating that esphome needed a platform with platform key. If you enter platform and a key then it fails because it says it no longer uses platform. Attempting numerous times and sometimes compile will allow it to proceed but rejects and states that ethernet component not found. So again, I am lost.