Most video subtitle formats can be converted between each other to increase their usability in modern media player. This is especially the case for some older and rarely seen subtitle formats, such as .w32 or .stl. Best way would be to use some of the subtitle converters and just save your subtitles in a format you need.
Convert WinCAPs subtitle file to Win2020 screen subtitle.
We found one software available in the database for this conversion.
Microsoft Windows software - convert w32 to stl on Windows
A subtitle editor
Convert from w32 file format
The table with program actions contains information about what each program is capable of doing with their files. This may be a good pointer for further searches for certain file conversions and help you find the converter you are looking for if our search result is insufficient for you. However, it is far from perfect and may sometimes show results which are not really usable because of the nature of the software handles the files. So a conversion that appears as possible, just because of matched actions, may in fact not be possible.