Will a 13/32" easy out with socket wrench help to remove a stripped 3/8" faucet seat? Any risks to be aware of?

Use seat removal tool. Use the bigger & shorter end. Insert it into the seat and tap it with hammer. Once it bites, push hard in in-ward direction with one hand while turning the tool with the other hand in CCW motion. Unscrew the seat

Seat removal tool is a simple tool made specifically for seat removal. One end is "skinny & long", the other end is "fat & short." Both ends are square and tapered, matching squarish inside configuration of the seat. You can purchase it in Home Depot or Lowe's for about $5.00

Hope that helps

Milo