Microsoft USB Flash Drive Manager

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If you are using USB keys to boot WinPE, you should take a look at this tool.  One thing that I have observed is that it boots the USB key much faster.  It also has a lot of configurable settings and it works on a great deal more USB keys than formatufd.

Here's the link where you can download it:

https://www.microsoft.com/downloads/details.aspx?familyid=94991901-bfc4-485e-bcae-c9df0accdaae&displaylang=en