Note: Changing partition formats WILL DELETE ALL DATA ON THE DRIVE, so make sure you back up all the data on the drive before you start. If you need to transfer files between computers of various OSs, I'd recommend ExFAT. The maximum FAT32 volume size is 16 TB with a sector size of 4,096 bytes.
Here please choose NTFS as the target file system so as to break FAT32 partition size limit, and hit Start button. Then the format window appears, with many options for you to choose. I'd recommend the MacOS partition format for it's reliability, but only if you're working in a strictly Mac OS environment. Now that the backup is finished, we can right click the FAT32 partition in Windows Explorer and choose Format to continue. For you to be able to store a file greater than 4GB in size, you'd need to reformat the drive to either ExFAT (file size is limited to 16EB, or 16 BILLION TB) or a MacOS partition format (called HFS plus, file size limited to 8EB, or 8 BILLION TB).
FAT32 limits file sizes to 4GB and device sizes to 8TB. This is a typical partitioning format that is supported by practically all computers (windows, linux and mac os). The drive is most likely formatted as FAT32 system.