> the emulator would just select
What is “the emulator” here? If it’s the original CPU, you’re just trading off some of its computing power to a slower, emulated CPU.
For emulating a CPU, you don’t need a lot of storage, and it’s much faster to use main memory (RAM) instead of using SSD memory. What you need for emulating a CPU, however, is computing power, and only another CPU can provide that.