[mort96]

UFS2 might be the technically perfect tool for the job, but that doesn't matter when Windows doesn't support it. A camera manufacturer or SD card manufacturer can't start shipping their customers SD cards formatted with UCS2 when it's not supported by Windows. They could start shipping FAT32 SD cards and software and firmware which can read and write FAT32+BigFAT.

[RealStickman_]

In my opinion UDF [1] would be a great option. Although it's mainly used in DVDs, it can also be created as read/write capable. [2]

[1] https://en.m.wikipedia.org/wiki/Universal_Disk_Format

[2] https://duncanlock.net/blog/2013/05/13/using-udf-as-an-impro...