So before we had, say, a physical device for the drive and then you had volumes. Now you can see that I'm actually selecting the Thumb Drive Volume inside of the one container for this actual physical device. One where it shows only the volumes and another that Shows All Devices. You see in Mac OS Mojave disk utility has two view modes.
But, in fact, it's a completely different problem and a very simple one to solve. If I click Erase here you see that the only format options I get are APFS. But if you need to reformat it, say as the older Mac format or maybe a cross platform format with Windows, it seems like once you format something like this thumb drive at APFS you can't reformat it as anything else.
How do you reformat a drive that is formatted APFS? APFS is the current way to format Mac drives. Video Transcript: Here's a question that's been asked a lot recently all over the internet. Check out How To Reformat An APFS Drive As Something Else at YouTube for closed captioning and more options.