Yes. And for the benefit of some I'll point out that for interfaces like the Platane UP1, recently discussed, the 32-bit is in data transport only.

For "location" recording, the 32-bit refers to a different scheme—essentially managing multiple gain levels simultaneously so that capture gain will never be way too little (resulting in excessive noise floor), nor way too much (resulting in clipping). A very important feature when there is no second take, and often no way to know how loud the source is in advance.

But there is never 32-bit conversion in the same sense of 24-bit conversion. It would be like signing your name on the head of a pin with a Sharpie, not physically possible. Nor necessary.