Your PS4 gaming console only supports two file system formats: FAT32 and exFAT. Both these file systems have their pros and cons, and here is a quick explanation of the same:
FAT32: This is a compatible file system format with a maximum file size limit of 4GB. So if you wish to store large-sized games, which is quite common in PS4, FAT32 won’t be a good fit.
exFAT: exFAT file system supports large file sizes, and it is recommended for you to use it if you are storing files anything over 4GB. Also, you will enjoy better compatibility and more flexibility in file management.