exit vs way out

exit and way out both are nouns.

Word	Noun	Adjective	Verb	Adverb
exit	Yes	No	Yes	No
way out	Yes	No	No	No

As nouns, exit and way out are synonyms defined as:

Other synonyms of exit include issue, outlet.

exit (noun)	way out (noun)
the act of going out	an opening that permits escape or release
an opening that permits escape or release
euphemistic expressions for death

exit (verb)	way out (verb)
pass from physical life and lose all bodily attributes and functions necessary to sustain life
lose the lead
move out of or depart from