The problem with an NTFS drive is that you'd have to disable Secure Boot (in your BIOS) in order to boot from it and Windows 11 requires Secure Boot so the installer may tell you that you're not meeting the requirements. One thing that makes this process tricky is that, if you use a popular Flash drive 'burning' program such as Rufus, it will create an NTFS-formatted boot drive, because the main installation file is more than 4GB and therefore cannot live on a FAT32 partition. For that, you'll need an empty USB Flash drive that's at least 8GB.
Unless you're just installing Windows 11 onto a virtual machine, in which case you can skip to step 19, you will need to create a bootable Windows 11 install disk from the data in your Windows 11 ISO file. Making a Bootable Windows 11 Install Disk The ISO file it creates will allow you to install Windows 11, even if you don't have TPM.