QEMU [0] emulates many systems, including the 32-bit Intel architecture. For retro gaming specifically I can recommend PCem [1], which also emulates a wide range of sound and graphics cards, from IBM MDA to 3dfx Voodoo 2.
For REALLY old games PCEM works but for later games (think generation half life 2+) it becomes very tedious to work with VMs, especially when you have to do GPU Passthrough
Looks like 32-bit user mode (but not kernel mode) is not getting removed, so these games should still work.
Unless by that you also mean running old OSs (e.g. Windows 95... but you probably can't run that already, in a world with UEFI and no A20) then you're fine: they are removing ring-0 32bit, but not ring-3 32bit.
It seems 32 bit programs would continue to work, it's only 32 bit OS that wouldn't.
I feel like most retro games work fine in a 64 bit OS, but maybe you can chime in if that's true or not?