Both the standalone ep128emu, and the ep128emu-core versions are possible to run on RPi 2 and upwards.
The standalone version can be compiled as follows (instructions tested on a new install of Raspberry Pi OS):
git clone https://github.com/libretro/ep128emu-core
cd ep128emu-core/
git checkout standalone
sudo apt install scons libfltk1.3-dev portaudio19-dev libsndfile1-dev libcurl4-openssl-dev
scons -j4
./epmakecfg
To make life easier, tick the "Download ROMs" checkbox when generating the configuration. The original ep128emu repository can also be used, but it has not been updated since a while, and the standalone branch in the core repo contains a fix for 64-bit ARM OS among other minor improvements.
As for the core version, it runs inside RetroArch so first install that. For 32-bit ARM OS, there is a download location, listed in the other thread linked below. For 64-bit ARM OS, unfortunately there is no central RetroArch buildbot for the aarch64 cores, so it can be built manually:
git clone https://github.com/libretro/ep128emu-core
cd ep128emu-core/
make -j4
cp ep128emu_core_libretro.so ~/.config/retroarch/cores/
Don't forget to run the online updater inside Retroarch (assets, core info files, controller profiles, shaders).