It updates when cPanel updates it.. cPanel usually delays updates on 3rd Party software due to compatibility issues that may arise. If there is a cPanel update available that contains an updated phpmyadmin (I don't know), I'm sure it will be applied soon.
Maybe, Because some hosts still use PHP 4, and phpMyAdmin 3.2.0.1 doesnt support php 4. BUT because PHP 4 is End-off-life they will maybe update phpmyadmin to version 3.2.0.1
