GP3 works fine on Windows 10 once installed, though you may need to run it using a cracked exe to bypass copy protection that no longer allows it to run. You may also use a wrapper like dgVoodoo2 to give the early DirectX support required (although some systems may get a better framerate using software rendering). Replay viewing does not work on any modern system, but I was able to get replays working for GP3 on a virtual (emulated) machine with Windows 98 SE installed using software rendering. An emulated Win98 machine also did not require an exe with copy protection removed (you can passthrough a real DVD drive from the host). Unfortunately no matter what I tried I cannot get replays from the GP3 2000 Addon to work.
Grand Prix 3 is one of the few cases where a period retro machine may be the best way to run it.