It is not so much Windows CE the concern, but to manage the Memory Management Unit within the processor SH4 of the console which is necessary (used also by Win CE). This can be done on a PC but not on Pi because it requires too much resources.
@leosabino Upgrade to the latest stable version (currently Recalbox 6.0 Dragonblaze): https://archive.recalbox.com/
You will have to back up your files and start from a clean install because the updater will not be able to upgrade from such an old version (there were many changes).
After that, test and return here to say if it solved.