Direct mkfs works:
# mkfs.vfat -I -n label /dev/vdb mkfs.fat 4.2 (2021-01-31) mkfs.fat: Warning: lowercase labels might not work properly on some systems # blkid -p /dev/vdb /dev/vdb: PTUUID="892240dd" PTTYPE="dos"
Direct mkfs works:
# mkfs.vfat -I -n label /dev/vdb
mkfs.fat 4.2 (2021-01-31)
mkfs.fat: Warning: lowercase labels might not work properly on some systems
# blkid -p /dev/vdb
/dev/vdb: PTUUID="892240dd" PTTYPE="dos"