Is FAT 32-bit version ok for Linux?

I understand this may be a dumb question but I just realized my main SSD is a FAT 32-bit version - I installed Ubuntu a while ago. Is this partition format ok or would another one work better with Linux?

Are there any advantages/disadvantages to using this format?

Thanks!

EDIT: by my main SSD I mean the main HDD where Ubuntu is installed.

EDIT2: To clarify this is the drive https://i.imgur.com/CswZNZd.png and "/dev/sdb1 vfat 523248 4744 518504 1% /boot/efi" - and I ask this becasue I got a notification from Dropbox saying my drive is not compatible with the new Dropbox formats and will stop syncing in November and I've read that Dropbox only accepts ext4 and I had to check and my SSD says what it says. So I am confused is it FAT32 or lime someone explained it only uses FAT32 to boot but Ubuntu is installed on ext4? I am confused.