Wyze cams have ALWAYS worked much more smoothly with FAT32, so I always recommend using that.
Technically Wyze upgraded their firmware to support exFAT, but I have had more problems with that than I have cards that I made into FAT32, particularly on my Pan Cam V1…it would go through spurts of working for a while then not being recognized if I used exFAT, but was always solid with FAT32.
If you want to understand a little more what the difference is or why I primarily stick to FAT32, this is one of the clearest explanations:
It also links to a program that will format large cards to the FAT32 format (which Windows doesn’t natively allow you to do).