Setting up microstepping mode requires additional circuitry around the DRV8432. I will discuss this in more detail further down. Have you looked at the DRV8711, which has the ability to microstep, but requires external FETs?
DRV8432:
At a minimum, two current shunt amplifiers are needed along with two current sense resistors. This information can be seen on the DRV8412-C2-KIT schematic (IA-FB/IB-FB and IC-FB/ID-FB). Each current sense pair IA-FB/IB-FB can be combined into a single amplifier and resistor if desired. The current is then monitored by the mcu, which controls the outputs.
The OC_ADJ is intended for system protection. Many of the EVMs have the ability to adjust the value for demonstration purposes.