32bits you can represent 2^32 binary numbers with 24 bits you can represent 2^24 binary numbers. More bits = more resolution.
I don't think it would represent more effective resolution. Remember that effective resolution is guaranteed by a combination of D/A resolution and
reconstruction filter performance.
What we perceive when listening to digital audio is not a succession of stairsteps, but a continuous wave. The reconstruction filter is an important but often neglected or forgotten part of the whole process.
Since filters and D/A's are not perfect, increasing the bit depth may well produce a slightly measurable improvement, though; but considering the actual state of electronics and the audition process, I really doubt it is audible. Noise level is actually the great equalizer, producing about 3 LSB's of dither in 24-bit format, which is already more than plenty. In 32-bit format, it would produce 11 MSB's of dither, which has no practical advantage.
I don't doubt native 32-bit format may have some practical interest, but I suspect 32-bit DAC's will output fixed-point format, when most DAW's expect 32-bit floating.
32-bit fixed is not a convenient format for processing, so some kind of format conversion will still have to be done.