exFAT (short for Extended File Allocation Table File System) is a file system introduced by Microsoft in Windows Embedded 5.0 and above (including Windows CE 5.0, 6.0, Windows Mobile 5, 6, 6.1), which is suitable for flash memory. It was introduced to address the issue of FAT32 and other file systems not supporting files larger than 4GB. For flash memory, the NTFS file system is not suitable, whereas exFAT is more appropriate.
Windows XP can support the exFAT file format through an update that can be directly downloaded from the Microsoft official website, named "WindowsXP-KB955704-x86-CHS.exe". After installing this update, you will need to restart your computer for the changes to take effect.