How can I format or convert exfat to fat32 without losing data?

Are you going to format exFAT to FAT32 on Windows computer?  First off, FAT32 has some limitations—like it can't handle files bigger than 4GB, and the max partition size is around 32GB on Windows (though tools can go bigger). exFAT is more flexible with larger files and bigger partitions, so switching back to FAT32 might mean losing some of that flexibility.

When you format exFAT to FAT32 on Windows computer, it essentially wipes the drive clean, so make sure you've backed up all important stuff first—no funny surprises or data loss. Also, using Windows' built-in formatting tools to switch from exFAT to FAT32 isn't straightforward for large drives—Windows doesn't offer FAT32 for large partitions natively. You might need third-party tools like GUIFormat or FAT32 Format to do the job.

From my own experience, if you're just doing this for compatibility with older devices or gaming consoles that only support FAT32, it's usually fine as long as you're aware of the 4GB file size limit. Just double-check that your data is backed up, use a reliable tool, and go easy—don't rush the process.