Seems unlikely. I'm not 100% sure on this, but I think booting from USB was first a 'thing' c.2003-2004. A good 5-6 years after that laptop launched.
External disk drive? Not sure how viable that is, given the era.
There were docks that you could connect an external SCSI drive to.... Assuming you don't have a dock?
As for an OS, I'd suggest considering 98. 2000's a little more taxing in terms of minimum requirements, and that laptop was designed with 98/98SE in mind.