I sort of did something similar, cobbling together old parts. If you've got the money and are just looking at something to play with, it couldn't hurt. Just don't expect it to be anything impressive. The GPU will perform on average slightly slower than a GTX 1050, and the CPU will be something akin to 2nd or 3rd gen Intel i5, give or take, but consuming a ton more power to do it.
As
@drea.drechsler said, you'll need some good cooling for that CPU. But, get a cheap case, an HDD, and, depending on how recently that board was used, there's a chance that an OEM Windows 7 or 10 license is tied to that motherboard. Just try to do a clean install of Windows 10 using the Microsoft installer tool on a bootable USB, and choose no license. If you're lucky, you just might wind up with a valid OEM Windows 10 license, even if it was running Windows 7 before.
Check out what I did with mine - click on the Spoiler in my sig, and look at Old Ironsides. Granted, I had a bit more in free parts thrown at me by various friend whose names shall remain unknown to protect the guilty
and my only splurge was the GTX 1650, which I probably didn't need to do.