Pentium 4 vs intel i3

Yes the game is compatible with an i3 processor. Pentium 4 is the oldest processor that supports the game, anything newer provided it's fast enough will work fine. The i3s are dual core CPUs that are significantly faster than any of the Pentium 4s so it will run the game just fine.
 
As stated,
Even if a game's minimum or recommended requirements for a game shows Pentium 4 it means that it requires a P4 system run properly. When taking in the case of an i3 chip/processor, since it being much stronger than a Pentium 4, it can do well in that game as well. :)