The planet is large (over 2 Earth-radii) and has a low density consistent with that of a watery or Neptune-like planet and not a silicate planet or a partially metallic planet like Earth. This compromises its habitability, for a solid surface is required for life to develop spontaneously on a planet.[3][4][5]
However, 2021 studies show that sub-Neptunes have an abundance of water and life-friendly molecules (nitrogen, oxygen, CO2, etc.) in their atmospheres, and the area with habitable temperatures and pressures is fairly stable. As a result, K2-332 b could be a habitable planet despite its extremely low density. If the system has a leftover dust disk or asteroid/comet belt, panspermia of microbial life from a terrestrial planet or earthlike moon could occur, and the organisms would have enough time to reproduce before dying due to the harsh conditions.[6] 2019 studies of the TOI-270 system support the notion that Mini-Neptunes have life-friendly atmospheres rich in organic matter.[7]
The planet is very close to its star with a low eccentricity, so it is likely to be tidally locked, with one side always facing the star. In this case, the dayside would be extremely hot, while the nightside would be cold enough to freeze an atmosphere on a terrestrial planet, where the terminator line and adjacent twilight region would be the only habitable parts of the planet. This occurs in 4.5 Gyrs in planets orbiting stars M1 and later, and in 1 Gyr in planets around stars M7 and later.[8] However, oceanic currents and wind can distribute heat evenly around a planet (any planet, not just an Earth-size one), warming the nightside past the freezing point of the atmosphere and cooling the dayside to below 100 °C. The area in the life-friendly pressure tier of the atmosphere that would also have habitable temperatures would then extend to 55° in both hemispheres on the dayside and around the nightside near the equator, with a maximum temperature of ~42 °F (6 °C). For higher levels of carbon dioxide, this area could even extend around the entire planet (minus the nadir and high polar regions).[9]