-F has always been supported by real UNIX®️ AWK; that's where -v and -F come from.
EXAMPLES Print and sort the login names of all users:
BEGIN { FS = ":" }
{ print $1 | "sort" }
The above is from the GAWK manpage. FWIW, the first example under EXAMPLES uses FS not -F.There is nothing wrong with using FS instead of -F.
FS is not used on the command line and doing so is asking for trouble. FS is a built-in variable and as such is treated specially.