I assume you mean Qwen 3.8-27B? Yes, you can run this in 32GB of RAM, but it's very context limited. With KV cache compression and other techniques, it's better now than in the past, but I'd still want more RAM, personally.

EDIT to add that you need to reserve 8GB for the system if you don't want to cause problems on macOS, which means 32GB RAM = 24GB max for model + context. It takes 18-19GB to load a 4-bit quant of Qwen3.8-27B, so I'd be really surprised if you can actually get a 200k context window. You need to fit within a 24GB WSS (which is generally a more constrained RSS) to get stable performance on 32GB RAM.