Kimax BS-U35WF on Arlo Camera Hub?

My Arlo Camera System Hub (VMB4540) has a USB port for connecting an external drive for local recording. I’m wondering if I connected the BS-U35WF USB 3 port to my Arlo Hub whether the Arlo Hub would recognize it as a USB drive?
The Arlo Hub requires the external drive to be formatted in FAT32. Will the BS-U35WF work with FAT32?
Will the BS-U35WF allow me to access files on its drive via Ethernet or WiFi while the USB 3 port is connected to a host (the Arlo Hub)?
My purpose in this configuration is better remote access to local Arlo recordings.
Thanks in advance for your help!