Where/how did you format?
Was this in the PS4 directly? Or on a PC?
Looking like you have a 200MB (or so) partition on the drive - likely a recovery option?
You need to delete/format the entire drive - what likely happened is you formatted only the "main" partition.
P.S. You might want to update your title to something more relevant: "PS4 HDD shows 200MB" or something along those lines.