zzblank is just an empty file, to wipe the partition table
You would need to:
fire up disk utility, figure out the device name of your SD card (/dev/disk3 for example),
unmount all partitions but not eject the card, open a terminal, become superuser ("sudo -s")
erase the partition table ("dd if=/dev/zero of=/dev/rdisk3 bs=4M count=1" - yes, I added an R before "disk3" - be sure to not wipe the wrong one, and not using the zzblank file itself for the above reason),
once it finishes remove and reinsert the card, then format the whole card to exfat without a partition table ("newfs_exfat /dev/disk3" - note the number may have changed as you reinserted the card if you also connected or disconnected other disks in the meanwhile)
also, i read exFat will cause all game files to take up 2x double the space on the microSD card... true?
Bull, installing vpk files through vitashell does (vpk isn't recommended anymore for game backups, and the issue can be avoided anyway by extracting the vpk=zip on the computer to an empty folder, and using vitashell's "install folder" feature)
what is alternative format for a 200GB microSD for this use?
None!
(Well, I would take anything over exfat, but since we're talking Vita there are no alternatives

)