The 64-bit CLR is used by default. This corresponds to setting the project property Platform Target to AnyCPU. To use the 32-bit CLR, you set the Platform Target to a 32-bit platform.
Most COBOL programs can run on 64-bit systems without recompilation. However, there are some cases where you need to ensure that COBOL pointer items in your application are allocated as 64 bits in size rather than the default of 32 bits. To do this you set the project property Generate 64-bit Pointers.
You need to generate 64-bit pointers when:
If your application uses native COBOL code, and you need to execute that code on a 64-bit CLR, you need to ensure it is recompiled to target the appropriate 64-bit processor.