I have run qemu successfully on a mobile Kaby Lake processor. Was a 8th gen i5 with 4c/8t, though, and the system had 32 gigs of Memory.

With that setup, I ran Windows to use Lightroom, went pretty smoothly.

So, like, the architecture can do it, but with 2c/4t and almost no Memory, you probably can’t do much on the host OS while running the emulator, and whatever you emulate probably also can’t be very heavy.