Dave Plummer, a former Microsoft developer, has [1]shared the story
  behind the Format drive dialog box in Windows, which has remained
  unchanged for nearly three decades. According to Plummer, the dialog
  box was created as a temporary solution during the porting of code from
  Windows 95 to Windows NT, due to differences between the two operating
  systems. Plummer jotted down all the formatting options on a piece of
  paper and created a basic UI, intending it to be a placeholder until a
  more refined version could be developed. However, the intended UI
  improvement never materialized, and Plummer's temporary solution has
  persisted through numerous Windows versions, including the latest
  Windows 11.

  Plummer also admitted that the 32GB limit on FAT volume size in Windows
  was an [2]arbitrary decision he made at the time, which has since
  become a permanent constraint.

References

  1. https://twitter.com/davepl1968/status/1772042158046146792
  2. https://www.theverge.com/2024/3/25/24111288/microsoft-format-drive-windows-ui-dialog