Hi, the new 4.x version is now only supporting x86_64 devices. Actually if your processor is 64-bit capable, we highly recommend you to upgrade to 64-bit Windows, which will be able of using more RAM and will bring your much smoother experience. The architecture and built-in functions in v4.x are designed for a modern 64-bit environment, which can better support new video types.
For x86_32 devices, the legacy version will be a better choice (http://splayer.org/). The new decoder is provided for supporting H.265 and other videos. However, currently there is no further development plan for the legacy version.
Let us know if you have further questions, thanks.