exFAT is a file system which is created by Microsoft for flash drives.
Well, this article can help you to learn more information about it.
What Is exFAT?

exFAT is an acronym for Extended File Allocation Table which is afile systemintroduced by Microsoft in 2006.
It is created to be used on flash memory likeUSB flash drives, SD cards and so on.
The name of exFAT gives a hint for its precursors:FATfile system.
The Pros of exFAT
exFAT is a file system that is optimized for flash drives.
This is useful when data corruption occurs because the logs can be used to recover corrupted data.
Few other file systems have this issue.
It is not quite as widely-supported as FAT32 does.
First of all, we mentioned that exFAT is between FAT and NTFS.
Here we list one typical point.
The USB flash drive which is formatted with FAT32 file system cannot have a single file over 4GB.
Then you might ask why not choose NTFS?
And the compatibility is a problem too.