Ext4 is the evolution of the most used Linux filesystems (Ext3, Ext2) and promises improved design, better performance, reliability, and features over its predecessors.
It is the default filesystem in Manjaro.
For advanced optimizations see the Archwiki Ext4 article.
Microsoft created the exFAT (Extended File Alocation Table) to make up for the inadequacies of FAT32 & NTFS, as it can hold large files, large numbers of files & use very large partitions. Supported on Linux, Windows, MacOS and many other devices, it is one of the most compatible filesystems. A good choice when you need to share a removable device between many systems.
To use exFAT, you need to install the exfat-utils package. You can do this using your favorite package manager or with this command:
pamac install exfat-utils