Hi,
Thank you for reaching out to us. Indexervolumeguid keeps the indexes of the files in System Volume Information. For us to help you with your concern, kindly answer the following questions:
- Are you trying to format an external drive? What is the specific drive letter are you trying to format?
- Can you tell us how are you formatting the drive? Are you using Disk Management?
- Are you getting an error code whenever you try to format the drive?
Meanwhile, we suggest that you check Sumit Dhiman2's reply on this thread about turning off the System Protection for the drive.
We'll be waiting for your reply.