Depending on how the object is implemented, you may be able to just change the activation context by adding clsctx=pythoncom.CLSCTX_LOCAL_SERVER to the args passed to Dispatch. If that doesn't work, then try CLSCTX_ACTIVATE_32_BIT_SERVER (0x40000) for the clsctx. If neither of those work, you still may be able to create an out of process proxy for the application using Control Panel->Administrative Tools->Component Services.

This is how I got it to work.
I've tested it using JDK 1.6 (32bit) on my Windows 7 64bit machine.

1. Install 32bit JDK.
2. Copy 'win32com.dll' to JDK_HOME\jre\bin.
3. Copy 'javax.comm.properties'to to JDK_HOME\jre\lib.
4. Copy 'comm.jar'to to JDK_HOME\jre\lib\ext.

Now run your program and it should work.

1. Start a command line with admin rights.

2. python -m pip install pywin32

3. C:\Program Files\Stackless36\Scripts>python pywin32_postinstall.py -install The path C:\Program Files\Stackless36\ should be replaced with the path at which your Python version is installed.

4. Test (admin rights optional) using python -c "import win32com" or python speak.py

   where speak.py consists of this text:

   import win32com.client
   
   speaker = win32com.client.Dispatch("SAPI.SpVoice")
   speaker.Speak("It works. Hoorah!")
   

Working fine on Python 3.6.4 Stackless 3.1b3 060516 (v3.6.4-slp:9557b2e530, Dec 21 2017, 15:23:10) [MSC v.1900 64 bit (AMD64)] on win32. Vanilla CPython hangs out here:

C:\Users\C\AppData\Local\Programs\Python\Python36-32>python.exe
Python 3.6.5 (v3.6.5:f59c0932b4, Mar 28 2018, 16:07:46) [MSC v.1900 32 bit (Intel)] on win32
Type "help", "copyright", "credits" or "license" for more information.
>>> import win32com.client
Traceback (most recent call last):
  File "<stdin>", line 1, in <module>
ModuleNotFoundError: No module named 'win32com'
>>> exit()

C:\Users\C\AppData\Local\Programs\Python\Python36-32>python.exe -m pip install pywin32
Collecting pywin32
  Cache entry deserialization failed, entry ignored
  Downloading https://files.pythonhosted.org/packages/d4/2d/b927e61c4a2b0aaaab72c8cb97cf748c319c399d804293164b0c43380d5f/pywin32-223-cp36-cp36m-win32.whl (8.3MB)
    100% |████████████████████████████████| 8.3MB 50kB/s
Installing collected packages: pywin32
Successfully installed pywin32-223
You are using pip version 9.0.3, however version 10.0.1 is available.
You should consider upgrading via the 'python -m pip install --upgrade pip' command.