If you didn't want to setup an emulation front-end then there are preconfigured setups available. Some romburners now sell preconfigured HDs, and I know of at least 2 people in the emulation scene that create preconfigured RPi4 setups ready to go. So options exist for those without time, or can't be bothered to do it all themselves.
Obviously if then putting a preconfigured setup in an arcade cabinet you might end up having to redo the control configuration.
I would probably opt for a full PC build though with a full cabinet setup just to have the best emulators and options.