A few weeks ago, I uninstalled ArcGIS Pro 3.1x and did a fresh 3.2 install (since the Pro download file got corrupted on my end; the upgrade failed, so upgrading was no longer an option).
I was pleased to see that all my settings from the 3.1x installation were saved on my PC and honored in the new installation.
I just wanted to give kudos to Esri staff and let you know that it worked as expected; I didn't need to re-set up all my default settings, such as default paths or default basemaps, etc.
@KoryKramer and co might be interested in this. Cheers.