The 32-bit linker doesn’t like
#pragma comment(linker, "/EXPORT:GetPluginFactory=GetPluginFactory")
in juce_VST3_Wrapper.cpp. Fixed with
#if JUCE_32BIT
#pragma comment(linker, "/EXPORT:GetPluginFactory=_GetPluginFactory@0")
#else
#pragma comment(linker, "/EXPORT:GetPluginFactory=GetPluginFactory")
#endif