It would all depend on the way the HD is formatted, both platforms will read / write to FAT formatted HD. If the HD is formatted NTFS then only the PC will read / write to it unless you do some funky stuff with the Mac. If you formatted with the Mac using HFS, APFS etc then only the Mac will read / write to that HD.
If you use FAT 32, the biggest single file you will be able to put on that drive is 4GB that is the limitation of FAT 32