Re: Emulation ?
The emulator runs in a just-in-time basis, converting blocks of x86 code to equivalent blocks of ARM code. This conversion is cached both in memory (so each given part of a program only has to be translated once per run) and on disk (so subsequent uses of the program should be faster, as they can skip the translation). Moreover, system libraries—the various DLLs that applications load to make use of operating system features—are all native ARM code, including the libraries loaded by x86 programs. Calling them "Compiled Hybrid Portable Executables" (or "chippie" for short), these libraries are ARM native code, compiled in such a way as to let them respond to x86 function calls...
.... For the most part, Windows 10 on ARM should be identical to that on x86. The most notable exception is perhaps that there's no Hyper-V virtualization, and since so many of its features depend on Hyper-V, no version of Windows 10 Enterprise for ARM.
_ https://arstechnica.com/gadgets/2017/12/hp-asus-announce-first-windows-10-arm-pcs-20-hour-battery-life-gigabit-lte/