I’m going to assume that you don’t need to recover the data considering you already formatted it. If you mean you want to “recover” the use of the flash drive then you can use a technique that is used when A storage device is really messed up and other utilities fail. You can use the dd command from terminal to do this. If you are comfortable with terminal, and very careful in reading and understand instructions, you can learn how to overwrite the entire drive here: https://fossbytes.com/erase-disk-linux-mac/

Once you have overwritten the drive with a sufficient amount of bits, then you should be able to go back to using disk utility to format the drive to exFAT and use it again.