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

Windows 11/10/7 has a native function to let you convert exFAT to FAT32 via File Explorer.

Step 1: Connect your external drive or USB stick to your Windows PC.

Step 2: Open File Explorer by pressing Win + E.

Step 3: In the left pane, click on This PC to display all connected drives.

Step 4: Right-click the exFAT drive you want to format and select Format.

Step 5: In the Format window:

Select FAT32 from the File system dropdown menu.

Optionally, enter a drive label.

Make sure Quick Format is checked.

Step 6: Click Start, confirm the warning about data deletion, and exFAT to FAT32 formatting will begin.

Note: Windows built-in formatting supports FAT32 formatting only for partitions up to 32GB.