While Git for Windows v1.x was only ever offered as 32-bit installer (i.e. targeting the i686 CPU architecture), with the switch of Git for Windows v2.x in August 2015 to depend on MSYS2, there have been two variants: the 32-bit and the 64-bit (x86_64) one.
However, due to Git for Windows' reliance on the MSYS2, which dropped 32-bit support (the 32-bit version of the MSYS2 runtime cannot even be built as of version 3.4.0), Git for Windows will start to phase out 32-bit support after Git for Windows v2.40.x.
The last major Git for Windows version with full 32-bit support will be v2.40.x.
The 32-bit variant of Git for Windows will still be offered, but not all of the components distributed with Git for Windows will necessarily be updated as for the 64-bit variant.
For example, 64-bit Git for Windows v2.41.x will ship with the MSYS2 runtime v3.4.x, while 32-bit Git for Windows will remain with v3.3.6 forever.
The only official 32-bit artifacts built by the Git for Windows project will be MinGit, the minimal subset of Git for Windows intended for third-party applications (i.e. providing all Git functionality needed by applications, but not functionality needed for interactive usage by a human user).
Git for Windows will no longer provide any official 32-bit artifacts.