Denial of access to external drive (FAT32) to an Administrator (Win7, NTFS, x64)
Whether you configure both NTFS and SHARE permissions ? I believe you configured only the SHARE permissions using Share and Storage Management console. NTFS permissions You can configure the local NTFS permissions for a shared folder or volume using Share and Storage Management in the following ways: New shared resources.
https://answers.microsoft.com/en-us/windows/forum/all/denial-of-access-to-external-drive-fat32-to-an/3a1e2351-d707-4cde-9621-210e333d2dc6