Right, this is still true. And 32-bit execution still works fine on any Windows OS - it doesn’t need to be a 32-bit OS to run 32-bit executables (or more critically, to load 32-bit DLLs in a 32-bit process).
If package maintainers want to stop releasing wheels for 32-bit Windows, that’s between them and their users. Right now, dropping 32-bit Windows and picking up ARM64 Windows is probably a good trade, though in most cases the cost will be close to zero anyway.