ExFat it's great for USB flash drives and a easy way to get around this. But I had a few bad experiences with the lack of journaling working with a HDD.
Maybe not a deal breaker for a lot, but for crucial data, my advice will be build a cheap NAS with Linux inside, and pass all data between OSs over network
And was created pretty much because the last patents on FAT32 finally expired.
As a video editer the fuctionally of ExFat compared to Fat32 isn't even close to what I need them for. Fat32 can't store files larger then 4GB which is basically 99% percent of 4K videos that I deal with.
I would have preferred either a minimal update extending FAT32 to FAT64 (sort of like the extension from FAT12 to FAT32), or a better filesystem with journaling/etc.