8 and 16 bit processors are still widely used on an industrial scale and even intel flavors still in production, so 8 and 16 bit OS's are also readily available. And in principle they are supported by FPC.
They are mostly not called DOS or Windows 3.1 anymore
Plz see the difference between desktop programming and industrial programming.
ON TOPIC:
BP has a timing issue since 2000 for which a patch is needed. It suffers from 2000 syndrome and also from an issue regarding processor speed, because it can't keep up with it. Also note TP mode in FPC does not suffer from this issue and is 99% + compatible.
So you can either apply the official Borland patch from ~1998 or switch to FPC.
Sidenote: why do you use Win98?