Data recovery after running mkfs.exfat

Long story short, I unfortunately ran mkfs.exfat -L [drive-name] /dev/sd[X] and now when I plug in my WD external drive, I see an empty disk, although my drive has 4TB and is almost full.

If I understand correctly, I messed up the filesystem, but the files should/could still be there. I tried using testdisk to fix it / recover data. It detects the partition table type as “EFI GPT”, and finds one partition on it “MS Data”, but it fails to show files on it -> “No file found, filesystem may be damaged”.

Is there anything I can try?