The 32 A continuous current (Iu) at 45 °C is the base rating — it holds that current continuously without tripping, and the thermal element tracks ambient temperature, so at 70 °C it still carries 30 A. At 415 V it still handles 154 kA, and at 690 V it drops to 17 kA — that's the limit for a 690 V motor control center feeder.
The TM220 release is adjustable — the magnetic short-circuit pickup (li) goes up to 320 A, so you can dial it to coordinate with downstream breakers without swapping the unit.