DON'T !
why users still recommend outdated tools and partition format?
don't use "WBFS Manager" program.
don't format your drive to WBFS format.
WBFS format is not bad, but WBFS Manager is.
this program corrupts games! don't use it. You might argue that it didn't corrupt yours, but it did, you just don't know yet!
if you still want to use WBFS partition format, at least use proper tools like Wit/wwt, Wibafu, or Wii backup Manager on Windows.
If you ever used WBFS manager, quickly run the partition over WiiBackupManager and fix the free blocs list. (there's an option to do that). it will prevent corrupting more games in the future.
If you really want to still use WBFS manager, at least always fix the free blocs before adding more games with WBFS manager. but if you fix blocs with Wiibackupmanager, just use that tool to add games too. forget about broken tools.
Second :
Split files are the way to go ! FAT32 is possible, and even recommended.
format to FAT32, then use Wii backup Manager to manage your games on your drive. the games bigger than 4GB will be split properly, and the loader will load them without issues.
Games are not always more than 4GB, a disc is 4GB, but a game can be 400MB (like New Super Mario), and only 400MB will be used on your drive, maximizing free space.
FAT32 is required for lot of homebrew and loaders. for example, Homebrew channel, gamecube games, or emulators.
WBFS will work only with wii games, and you'll lose possibility to use other homebrew
if you use NTFS or FAT32 or ext : Do not put the games on your partition manually !
always use a game manager, it will shorten and split files AND rename AND create the required folder names and filename properly for you.
doing things manually is asking for problems.
Proper way to add games using Wii backup Manager :
https://gbatemp.net/posts/7592791
The only issue with FAT32 is in case you use a Flash drive instead of a real external HDD.
flashdrives and FAT32 don't mix well.
if you use a flashdrive, then WBFS format is probably the best. but you'll be limited to wii games on it.
you can use WBFS manager to format it, then don't use that tool again. switch to proper managers.