Yes. In January 2022 Wyze purchased a license to the ExFat patent to use it on all cams to support SD Cards in excess of 32GB which are ExFat by default. 32 GB Cards are FAT32. Announced Here
The Wyze Cam V3 previously had an issue with supporting SD Cards in excess of 128GB (limited recording to 90GB). However that issue was fixed with the introduction of the 4.36.10.xxxx firmware.
I have them running in the V3, PanV1, PanV3, V3Pro and OG Cams.
The current Wyze Party Line is that the max supported card is a 256GB card, however there are users who have far exceeded that.
The cams don’t really “Format” cards… Not a true format anyway. They just wipe them. All 32GB cards come native FAT32 while 64GB and above are going to be sold ExFat. Both are compatible with the cam in their native format. However, you can reformat the cards however you want on a computer and change the file allocation size if you feel the need.
Here are some links with technical info on SD Cards. There are other links that can be found within these threads and posts.