Is that CPU even capable of real-time video encoding? that is 16 years old... PCIe v2, right?
And you have a mis-match of audio sampling rates (will cause real issues on super under-powered system like yours, though I'll be surprised if you'll get that far)
if you are (or work to become) an Operating System expert to optimize for an under-powered system (as in, you enjoy tweaking the OS in the Registry to get every last ounce of performance out of the system), and then have an equivalent level of knowledge with real-time video (be that OBS Studio or anything else), then *if* you have very low expectations and settings, then maybe you'll get something to work... but unless you are simply up for the challenge, you are far more likely to simply get frustrated.
That computer is simply WAY too old and under-powered for performing modern real-time video capture
is it possible? probably... with a fair amount of effort
One thing to consider... with an ancient under-powered CPU, you'll want a GPU with video encode/decode to offload that work from the CPU. And then there are a bunch of settings to adjust to keep overall workload off CPU and on GPU (as much as practical)...
