Cannot set up canon TS5060 printer wirelessly with my Mac 32 bit incompatible

What is incompatible? Your Mac will run 32 bit and 64 bit apps. Macs have been 64 bit for many years.

You are running macOS 10.13.4 or later and it is issuing an obscure optimization dialog that is really Apple telling you to plan for macOS 10.15 which won't support 32-bit printer drivers. High Sierra and Mojave continue to support compatible 32-bit applications and drivers.

The Canon TS5060 printer drivers support page shows the same drivers and support software for 10.13 and 10.14. After you install this software, you will need to reset the print system to access the new drivers.