I have a small external backup drive where I dump my phone camera captures and archive YouTube channels - nothing special; a few terabytes, mostly mp4s.
Is there anything I need to do before/after I swap?
If it matters, the drive is 9TB, formatted as NTFS, and connected via USB 3.0.
I also have 4 internal drives, but I’m not so much worried about them, as I plan on just formatting everything but the external.
I usually format my external drives to exFAT since it’s fully supported R/W on all major operating systems, in the slim chance I have to use macOS.
Still, no need for the OP to reformat their drive; NTFS tends to work just fine.