FAT32 formatting can't work with a file size of 4GB + 1Byte or larger, has to be NTFS. Example 2: Full format using FAT32 PS C:\>Format-Volume -DriveLetter D -FileSystem FAT32 -Full -Force. But when it comes to how to choose from them, it depends on the size of the FAT32 partition and the size of files you store in the partition. Allocation unit size of 64 KB gives fast read and write performance in the USB Flash Drive.
I noticed if you reformat under Windows sometimes, it asks if you want to revert back to the default allocation unit.