Answering this one myself, too…
Yes, it’s possible, there’s a core for it available and activated, and most games boot up, which is pretty cool to see!
However, performance is still not good enough (heavy stuttering, sound issues, etc), rendering most games unplayable.
Nevertheless it’s great to see some progress in handheld Saturn emulation.
()Only when I have played through Shining Force 3 Scenario 1-3 on a handheld I can die happily)