It's easy:
$ dd if=hyperbola-milky-way-v0.2.1-dual.iso of=/dev/sdb bs=1M status=progress && sync
1) Create one partition entry in GPT
# parted <DEV-TARGET>
(parted) mktable GPT
(parted) mkpart primary fat32 1MiB -1
(parted) quit
2) Create a FAT32 filesystem on such partition and setup a label.
# mkfs.vfat -F 32 -n <FS-LABEL> <DEV-TARGET-N>
3) Mount target filesystem.
# mount <DEV-TARGET-N> <MNT-TARGET-N>
4) Extract ISO image on target filesystem.
# bsdtar -x --exclude=isolinux/ --exclude=EFI/hyperiso/ --exclude=hyperbola/boot/syslinux/ -f <ISO-SOURCE> -C <MNT-TARGET-N>
5) Unmount target filesystem.
# umount <MNT-TARGET-N>
<FS-LABEL>
: HYPER_v031
for example<DEV-TARGET>
: /dev/sdc
for example<DEV-TARGET-N>
: /dev/sdc1
for example<MNT-TARGET-N>
: /mnt
for example<ISO-SOURCE>
: $HOME/Downloads/hyperbola.iso
for example