It's possible to emulate. But not only. The main goal is to formalize the representations of the RISC-V instruction set (ISA), decoder, executor, and state machine. So it's more formal point of view for RISC-V ISA.
So does this repo define these things as F# function and as a user I can import this repo as library and call those functions and my function call would directly run instructions on RISC-V processors, with no "middlewares" like operating system and such?