How should I format my new WD portable hard drive?

I suppose I technically have a dual boot system. A/Windows on an SSD, and B/ Linux Mint is on an NVMe drive.

As the title suggests, I just bought a new 1TB WD Portable Hard Drive to store my Linux Backups.

My question is, should I reformat the drive, or use it "as is?"

Thanks.

Pen guin