Not likely. The two styles are rather different given the differences in resources. A 32X cart uses the 4 MB of space to offset the lack of ram. The CD doesn't have that space, so it loads things as needed into the ram it has.
Add to that the problem that we don't have source code for any of the 32X games... the game would first have to be reverse engineered before you could even start to try to convert it. That's way too much work.