pulseeffects functions as expected, working for me. Noted while using the equalizer on amarok, when i closed pulseeffects with the equalizer active, i had to deactivate and re-activate the equalizer after re-opening pulseeffects because I got an audible buzz on top of the audio output. Never tested doing this in the previous version so not sure if this has ever happened before, and I closed pulseeffects accidentally when this happened. This is not game breaking nor a reason not to push the update though.
no issues noted after upgrade, not sure how to test pipewire though. One thing I have seen in the logs is that pipewire seems to have a dependency on pipewire-plugin-jack which was not installed by default on my systems which were upgraded from F31 to F32.