How does Windows 98 work with the fingertouch interface of the iPad? There were some very expensive touchscreen Windows tablets back in the late 90s but they all used a stylus and generally the responsiveness was very slow
For absolute positioning a USB input device is emulated, so this might not work in Windows 98 without a suitable driver: https://docs.getutm.app/preferences/ios/#cursor
Most non-multitouch touchscreen devices emulate a mouse if there is not a more specific driver available. Trackpads were widely available on laptops at the time and you could jump to any point on the screen with those.
You can click but don't expect any gestures to work.