Your friend will have a system that is completely unusable for video editing of any sort, especially since Premiere 3 is now completely unusable as it is more than 25 years old, and was pre-OSX Mac only (no Windows version between version 1 and version 4 existed for the original non-Pro Premiere)! And even if it were Premiere Pro CS3, it is still unusable as all activation servers were shut down permanently, so that he will not be able to activate it at all. And activation is required for it to even work at all outside of a crippled trial mode.
And the EliteDesk layout is completely unsuitable for a video editing desktop since it cannot accommodate a discrete graphics card (GPU) of any sort whatsoever.
Hence, the combination of factors (a chassis which cannot be upgraded at all with the possible exceptions of the RAM and storage, poor thermal performance resulting in possible system throttling under even light-duty video editing and completely obsolete software which may not be compatible at all with a modern operating system) are the primary factors for your friend's proposed system being effectively dead.