Suppose I have a cospan of categories $X\xrightarrow{F} Z\xleftarrow{G}Y$ and I'm looking for exact squares containing it. The category $Exact_{F,G}$ of such things has a terminal object, namely the comma category $(F\downarrow G)$. In fact, the comma category construction provides a section of the forgetful functor $U\colon Exact\to Cspn$ from the category of exact squares to the category of cospans.
But what else is known about this category $Exact_{F,G}$? I would like to know about completeness, cocompleteness, etc.
Are there cases (i.e. subcategories of special cospans $F,G$) for which something interesting can be said about $Exact$? For example, if we look at cospans for which $F$ is a discrete opfibration, there is another section of $U$, given by 1-categorical pullback.
My motivation comes from the case when all categories in sight are finite. Given a cospan, my real interest is in finding exact squares for which the upper-left-hand category is as small as possible.
X <-H- W -K-> Y
andX -F-> Z <-G- Y
, it is exact if for any category $C$ and functor $Y \to C$, the result of “precompose with $K$, then left Kan-extend along $H$” is naturally isomorphic to the result of “left Kan-extend along $G$, then precompose with $F$”. $\endgroup$