It depends on the specific version you are on of 7.3.2.
If you were on 22.214.171.124+, then this includes a fix which allows the ePO communication to happen AND it includes the latest ePO extension (126.96.36.199) which is compatible with ePO 5.x (also available here: https://contentsecurity.mcafee.com/fd?file=mwg/mwg7/tools/epo/mwg-188.8.131.52.zip).
If you are on 7.3.2.[0-2] then ePO communication will not work at all due to an SSL issue (see Web Gateway 184.108.40.206 build 16052 Release Notes - https://kc.mcafee.com/corporate/index?page=content&id=PD24750).
I'm assuming you are on version 220.127.116.11+, and you can just download and install the ePO extension in the UI of MWG (Configuration > ePolicy Orchestrator). If this is true, then yes everything should continue to work.