Run Windows 11 on Raspberry Pi 5 with Botspot Virtual Machine ["don’t expect to be playing triple A games here. Older games (like 10-15 years ago) and web games should work ok."]
If anything, it would be more interesting to run a full x86 emulator to install Windows 98 / Windows XP to run older games. There are games that work better on native Windows 98 than via compatibility mode on W10.
I just saw a short of someone running an instance of XP on an esp32 chip. Dunno how well it actually worked cause it was just thirty seconds of an error message repeating. But I would love to play some old games with <1 watt of power.
ESP32 seems a bit too weak for both full x86 emulation and running Windows XP. From memory, XP didn't run well on anything less than 500 MHz (quick web search suggests official minimum CPU requirements on release was 233 MHz). I can't imagine Windows XP on a 233 MHz P2 was a good experience.