cores don't matter beyond two. Clock speed, instructions per cycle, and how much it's going to throttle matters.
Since that's a Skylake CPU, you're fine on cores, Clock speed, and IPC.
What will probably kill you is throttling. I've only seen a few systems that have cooling reasonable for ULV chips to not throttle. If a system packs a ULV chip, 9 times out of 10 it barely has a heatsink or fan. Which, for most users is fine, they don't care about throttling and don't need even half decent cooling on a ULV. For Dolphin, throttling matters.
Since that's a Skylake CPU, you're fine on cores, Clock speed, and IPC.
What will probably kill you is throttling. I've only seen a few systems that have cooling reasonable for ULV chips to not throttle. If a system packs a ULV chip, 9 times out of 10 it barely has a heatsink or fan. Which, for most users is fine, they don't care about throttling and don't need even half decent cooling on a ULV. For Dolphin, throttling matters.