Yes, ExitLag reduces the amount of time your data takes to be transmitted back and forth between your device and the game servers, which can help reduce lag, high latency and ping spikes. See the full list of available games at https://www.exitlag.com/

Using ExitLag should not get you banned, as long as you are using it for reducing lag with legitimate purposes.

ExitLag and VPNs are two different types of tools and both work in different ways. ExitLag can be used to reduce lag and enhance your performance. While a VPN usually can be used to create encrypted connection between your PC and a network.