I now have 256GB cards in a V2, a V3, and a V3 Pro. All seem to be working fine.
I STRONGLY recommend the High Endurance cards - especially if you are set to Continuous recording. The SanDisk Ultra specifically are NOT a HE card and SanDisk will not honor the warranty if used for camera. I have had extremely good service from SanDisk High Endurance cards. I have about 40 camera that are all set to continuous recording that all have SanDisk HE cards and have had only one failure. All of my early SanDisk Ultra cards have eventually failed as have both Wyze branded cards (only lasted a couple months).
And BTW, I have never needed to format a card before use. Just pop out of the package and put into the camera…