I had one of the Walther P38 w/ the 22LR conversion kits.
IIRC the .22 slide worked by using only one of the frames 2 recoils springs.
One side of the slide inside was simply machined out so it didn't engage the other recoil spring/guide.
That made for a very light recoil spring tension and the .22LR was able to run the slide by straight blow-back action.
Why I sold it I do not remember. But someone must have dangled a bright shiny object of desire in front of me.
I do wish that hadn't happened though. The P38/P1 is one of my favorite semiautos and I shoot them very well.
I don't recall any issues with the .22 conv unit other than it seemed to need HV ammo to work reliably.
The OP's pistol I recall when they came on the market. The design/look of the P38 made them very popular.
Zamac was used for the frame and some other parts IIRC.
One thing I'd advise is to use Std Vel Ammo in these.
IF it functions OK with Std Vel ammo,,stick with that.
I'd stay away from use of HV Ammo as there is the chance of the slide cracking at the front where it surrounds the bbl.
That HV ammo use causes the slide cracking is my own (and some others) opinion from seeing these come in for repairs.
The pistol does have a small track record of the slide cracking at the front . Not much else really goes wrong with them. People take them apart and can't reassemble or loose parts. Occassionally a cast part will break as with any of them. But a pretty reliable plinker.
I will say that the American Arms Co owners manual for these does state that HV .22lr ammo is what the P96 is made for.
But I'd hate to see a cracked slide just the same.
IIRC it has a Magazine Safety in it. That bothered a lot of owners. But leave it alone. It's not worth trying to remove and still have the gun working reliably.
Other than that, they seemed to be reliable shooter/plinkers.
Numrich used to carry pretty much all the parts for the gun.
Magazines being the exception. Aftermarket are out there with various results as usual.