Technically, yes. Realistically, you shouldn’t.
Websites claiming to offer a “free updated PC version” are distributing illegal ROMs/ISOs of the PS2 or Wii versions, bundled with emulators. While the files exist, downloading them puts you in a legal gray zone (at best) and exposes you to serious cybersecurity risks. Technically, yes
If you want the definitive Budokai Tenkaichi 3 experience on your PC—with upscaled 4K graphics, online multiplayer, and mod support—here is the safe, legal, and "updated" method. While the files exist, downloading them puts you
Emulators themselves are 100% free and legal. Do not download "pre-configured emulator + game" bundles. Get the emulator directly from the source: Do not download "pre-configured emulator + game" bundles
To get the game files, you need to dump your physical disc using a PC DVD drive. For PS2, this requires a specific model of drive (like the LG GDR-8164B) and software like ImgBurn. This creates an "ISO" file that PCSX2 can read.
Why go through this trouble? Because the modding community has created massive "updated" mod packs that only work on clean ISOs. The most famous is "Budokai Tenkaichi 4" – a complete fan expansion that adds Super characters (Beerus, Jiren, UI Goku) and rebalances the roster. This is the "updated" experience you’re seeking, but it requires the legal base game.