A 386 is probably underpowered, but a 486 could do it for sure. I used to play all the SNES games at 33mHz back in the day.

SNES emulators ran just fine on <100 mHz CPUs three decades ago. You’d have to try pretty hard to find a PC that couldn’t do that nowadays.

TempleOS would fall under the laws

So would DOS and Windows 95, but those haven’t had any updates in a couple years. Surely they’ll be updated to comply.