ExFAT works fine for me with the MacBook Air (M1, 2020), macOS 12.5.1 & Pixel 6, GOS: TP1A.220624.021.2022082400.
Have erased / formatted an old USB A stick connected via UGREEN hub to ExFAT with macOS' tool called "Disk Utility", have created a random 5 GiB file with dd on it and created a MD5sum of it.
The Pixel 6 didn't like the hub so I've searched my cable box and found a very cheap USB A to C adapter and it finally worked. I have copied the 5 GiB file to the Pixel 6 and checked the MD5sum with termux: Sum's the same. Then I've copied just a screenshot to the stick (to see if I can write to it) and it worked fine as well. I've connected the stick to the MacBook again and apparently that device does not like the cheap USB adapter. But with the hub I could finally see the picture.
So yes, besides the horrible usb hardware fuss, it worked fine.