...MS-DOS and thus (Windows 95, 98 and ME) won't even run on 32 and 64 bit CPUs...
I would like to use an emulator to run these versions of Windows.
You do not need to use an emulator for these Windows versions.
A virtual system will allow you to run them inside a Window.
VirtualBox supports guests starting with Windows 3.1 and even only DOS.
Windows 95 and above should work on more recent systems, if they are not too exotic, since there might be driver issues.
If you use the Windows Server 2003 SDK help system you will find enough information, which API functions are supported prior to Windows XP.