Moving time machine backup sparsebundle from Time Capsule to USB exFAT disk
As the comments say you migrating time machine backup to exFAT is a relatively long thing to do. However, if you want to just access the files from a exFAT formatted drive you can simply copy those files to that drive. Though this is not a great solution.
If it's possible try other options. Do not limit yourself to use exFAT.