Step 1: Reverse approach
For $x^{2}=32y$, the tangent is $y = mx - 8m^{2}$. For $y^{2}=4x$ the intercept must be $c = \dfrac{1}{m}$.
Step 2: Solve
$-8m^{2}=\dfrac{1}{m}$ gives $m^{3}=-\dfrac{1}{8}$, so $m=-\dfrac{1}{2}$ and $c=-2$.
Step 3: Result
The tangent is $y=-\dfrac{x}{2}-2$, i.e. $x+2y+4=0$.
Final Answer:
The common tangent line is x + 2y + 4 = 0.
\[ \boxed{\text{(C) }x+2y+4=0} \]