Only systems you need to worry about PSU with are ones that place very heavy demands on the 5V line. P4 introduced the ATX12V connector and drawing power from the 12V line as is still done today. So a modern PSU is fine in terms of balance.
As for total Wattage - even though later P4 CPUs were considered hotheads in their day, the highest TDP of a Netburst desktop CPU is 130W and that's dualcore. SInglecores top out at 115W. Compared to modern CPUs that can turbo over 250W that's child's play, in particular given P4 era GPUs were very low power compared to current cards (the FX5900 was considered notoriously hot at 59W, Even the "low-power" RTX3050 draws twice that. You really don't need more than 300W for a P4 system, the only reason to go for more is because the lowest rated PSUs tend to be low-end crap. Go for a good PSU, but even the lowest power good one will be more than enough.