You can by changing the recompiler. Unfortunately if you plan on going competitive you wouldn't be able to submit runs that are within 10% of the current world record as it's a game wide rule. As of right now, an emulator run wouldn't be accepted if it was anything under about 9 minutes (actual time can be confirmed by moderators). You could definitely learn how it works with some hands on experience and then see from there if you want to push the leaderboards with official hardware.
Some applications of SRM are possible for sure. I am not able to confirm if everything that has been found so far can be done on emu but I'm sure someone on the community discord server will be able to answer.
Two new categories are here after being promoted from the extensions leaderboard.
Classic Kakariko Route: This is the old Any% route from pre-2015 that can be found under the Defeat Ganon tab. It features traditional gameplay many are familiar with and is great to start out with as a new runner