There are currently 8 different formation groups in Bannerlord.
The problem is not with the amount but with the naming. If we were able to rename the formation groups however we'd like then this would improve the players quality of life when it comes to organising their party on the battlefield. This is reinforced even more so by the 'Order of Battle' mechanic that will be brought to Bannerlord in a future update.
Besides that, the naming seems quite half-arsed. Why is Formation Group [FG] 3 called 'Cavalry' whilst FG 7 & 8 are called 'Light Cavalry' & 'Heavy Cavalry'? Not to mention FG 4 being 'Horse Archers'. How many groups of cavalry do I need?
It would be so helpful if we could separate spear infantry from melee infantry (yes, my terminology comes from Total War). Not to mention, being able to dedicate an FG for your companions, whether family members or wanderers!
I think this would be a small change, but a big help for players who like to roleplay and really take on the strategy/tactics side of the game.