No. You will not be able to get the game to run with any amount of decent performance, Grand Theft Auto 4 struggles even on modern high-end systems because it is not very optimized.

The first thing I recommend you do is upgrade your operating system, you're using 32-bit Windows on a 64-bit processor. I recommend Xubuntu Linux 16.04.1 64-bit instead of Windows, it runs better on older systems like yours and most games old enough that you'd be able to play anyway will either work natively or work in WINE without much issues. Let me know if you need help installing it.

I recommend that you play another game, there are plenty of other games that you'd have more fun with simply because they'd run better on your system. You can check out an older GTA game like GTA 3 or GTA San Andreas. Additionally, goldsrc games such as the original Counter-Strike are definitely still fun to play and will run well on any old system.

GTA IV For Extreme Low PC's

Since the asker did not post an answer to his own question even though he found a solution I'm going to answer it for him.

It's well known in circles that you can run GTA IV on a Potato PC if you use the "GTA IV For Extreme Low PC's" config file.

Here's the file.

https://www.gtagarage.com/mods/show.php?id=22657

This lets you play the game on pretty much anything. There's something similar for GTA V.

You'll have no issue running it on a poor laptop.