real-time video encoding is very demanding. that is a very old, low-end CPU, and not even close to what any modern livestream software, like OBS, is designed for.
Could you do a super simple, low resolution, low bitrate, low FPS stream... maybe... you probably won't like it, but it depends on exactly what you are trying to do (in a couple of orders more detail than say 'record/stream my gameplay')
Look for guides on OBS settings for low-end systems, and most likely to use such an old laptop you should expect to have to learn how to optimize your Operating System and its settings, as well as OBS, in addition to avoiding unnecessary background processes/tasks/apps
