The PNG encoder only supports GUID_WICPixelFormat32bppBGRA (BGR) for 32bpp as specified in PNG Native Codec official documentation. When you call it with GUID_WICPixelFormat32bppRGBA, it will not do channel switching. The pervert will just use your pixels as they were BGR, not RGB, and will not tell you there's a problem.

I don't know what you're trying to do, but in your example, you could just replace GUID_WICPixelFormat32bppRGBA by GUID_WICPixelFormat32bppBGRA in the call to WICConvertBitmapSource (and also replace the definition of the last pixelFormat variable to make sure your source code is correct, but it doesn't change anything).

PS: you can use Wic to save files, not need to create stream using another API, see my answer here: Capture screen using DirectX