Pretty sure. Win98 uses FAT32, which has several shortcomings when compared to NTFS, the Win NT file system of Win 2k and XP. But, it is way more advanced than FAT16 of DOS 6.22.
Nowadays you could simply prepare the thing on a modern PC via some USB adapter or drive bay. Or on the same machine using more modern means like gparted from a live CD, if the things will boot from CD.
But doing it old school can't hurt.
There's a helpful page on the issue by Phil:
https://www.philscomputerlab.com/windows-98-m … e-capacity.html
Win98 will only ever install on the one primary partition, usually C:
To install Win9x from CD, you need a boot floppy with CD drivers. Alternatively, you can prepare things on a modern machine, maybe format the first partition as bootable and dump the CD content on D: in a folder like "wincd" and then start "setup" from there. That way, it will install quickly from there and never ask for the CD for driver updates, etc., as it remembers the path.
No expert on Win9x, but a C: partition of 8 to 32 GB could suffice and will keep the cluster size low.
https://support.microsoft.com/en-us/topic/def … 8f-73169155af95
(any small file or the last bits of its data will use at least one cluster, so, e.g. a bunch of 10 kB file with 32 kB clusters would waste 22 kB each, but that's rather academic.)
It depends on what you want: Having only the OS files on their own partition allows you to defrag that data quickly and frequently, keeping the boot time low. You could do the same for all the game files all the time, it just will take quite long.
As Tetrium writes, nothing will keep you from installing four HDDs on a standard enhanced IDE controller. You could still use a CD-ROM drive via some sound card IDE port then.
But even a single 120 GB one, you'll be having a hard time filling it as long as you don't plan on using Steam or hoarding every single game up to 2002 with dumping the CD image.
Cable should indeed be "ATA-66" or "UDMA-66", those are the ones with 80 thin wires instead of 40. The older ones would reduce transfer speed to 33 MB/s which would actually bottleneck some later drives.