Yes, but your biggest issue besides running outdated anti-virus is you need a lot more RAM.
256 MB is not enough anymore. RAM is fairly cheap so adding 2 GB RAM would go a long ways
in solving your predicament. Even if you download v4.xxx you will not be getting anymore vps updates.
See https://blog.avast.com/2015/05/06/support-for-older-avast-windows-consumer-version-will-end/
When was the last time you cleaned your HDD?
Try using http://www.piriform.com/ccleaner/builds
Your best bet in the long run and will perhaps save you pain and suffering is to find a way to upgrade you present computer.
Or save up enough money to buy a new one. Either way running outdated anything will cause you nothing but headaches.
Running an old dinosaur is not good any way you look at it. Since Microsoft stopped supporting XP people have moved on to
either Win7 or Win10. Even my Linux (in a virtual machine) needs to be updated from time to time.