Super idea! Yes it can be done. The cyl fits the frame window, that's all that really matters.
The rest is just routine fitting:
barrel cyl gap,
using the extractor 'star' from the original cyl/frame already fitted to the hand is a plus to maintain timing if it's long enough for the 32-20 cyl. Star alignment pins might need relocation.
If not, fit the 32-20 star to the hand, again routine fitting.
Possibly the cyl locking bolt may need fitting, again just academic.
The extractor rod is right hand thread for the 32-20 and post war K frames to ~1961.
I see no insurmountable hurdles or even any challenging issues. This is all routine gunsmithing.