Druid 32 branch has been cut: https://github.com/apache/druid/tree/32.0.0

We are on Druid 25.0.0. Any concerns with directly upgrading to Druid 32.0.0 ?

Yes, there would be major changes between those versions as Druid 25. Please refer to https://druid.apache.org/docs/latest/release-info/upgrade-notes/ for each version in between.