Yes i dont see why not. At least on the surface technical level.
I used to work at ms on xbox backcompat games and we AOT recompile PowerPC arch to x86. (Xbox 360 to Xbox one).
You could likely aot recompile any arch with enough resources to fix up issues and things.
One key difference is older games were fixed so no more updates. It can be a little trickier with modern games still taking updates but could be done.