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I would leave the format as exFAT (I'm assuming that is what you mean by ext32 though that might also refer to FAT32) but I would reformat it before use. Too many drives these days ship will all kinds of crapware on them. No real advantage that I've seen in formatting external hard drives as NTFS.
Your paranoia should extend to not trusting any storage medium. As one old saw puts it, the best way not to need a backup is to have one.
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