Format external hard drive settings
Having trouble finding an article that explains the different settings for formatting an external hard drive (ex. WD Elements 4 TB). Using the external drive for video editing: raw footage, project files (Premiere and/or Avid), Avid MXF media, etc.
Format: I've heard that Mac OS Extended - Journaled is the best for performance if the drive. The drive will be used on a MacBook Pro. Would I choose a different setting for MacPro 2013 ("trash can"), iMac 2020 or earlier, or iMac 2021 (M1 chip)?
Scheme: Should I use GUID Partition Map? I wouldn't be booting from the hard drive.
MacBook Pro 13″, macOS 10.14