Is exFat or NTFS better for the drive?
exFat supports more devices and OS but if you use the drive for windows only, then i would say NTFS is the way to go. format with cluster size 4 KB. if it’s a drive with at least 16 TB, format with cluster size 8 KB
if you want exFat, format with cluster size 128 KB, wouldn’t take any higher value. the higher the value, the more space will be wasted but it depends on the sizes of your files. if you store tons of small files, then it will be a big waste of space ( if you pack this files with winrar and store the archive file on your drive instead, then no space will be wasted)
look, the waste of space can be huge (on the second drive with 2 TB i packed most of those files with winrar, otherwise it would be much more wasted space)
more about cluster sizes: