It's not Intel, it's AMD - but it's also officially unsupported, no W98/ME drivers. It's AMD 780 (renamed AMD760G) on https://www.asrock.com/mb/AMD/K8A780LM/ .
Only ACPI support needed to be turned off when installing W98SE (switch /p i). For SATA HDD (640GB dualboot W98SE/WXP), I used patches from R.Loew, as well as for 2GB DDR SDRAM. Onboard LAN Realtek has a driver for the W98 official.
Audio is nuts, there is no driver for W98 for VIA HD Audio VT1708, but I turned the codec off and use SB Live! in the PCI slot. There's still a problem with not supporting audio in DOS (emulation of SB16 doesn't work), but I only use this system for 98/XP games, so it doesn't matter.
If you use a graphics card with a driver for W98, you won't have any problem with the Intel chipset you're thinking of. For PCI-E, it's the GF6xxx and 7xxx series, with ATI's X300, X600, X700 and X8xx.
GeForce 7xxx have an unofficial modified driver, and installation is sometimes a little more complicated, but nothing major. Series 6xxx and all ATI have drivers official.
Because I have a soft spot for ATI, the X700 was my first choice (the X8xx are rarely on offer and expensive in the area where I live), I bought the Pro version for $15. Unfortunately, after a few weeks she died. Now I've got a GF 7600GS for $5 and there's another X700 on the way, only basic model, not PRO. You can see the performance of both cards in 3DM2001 on the photo.
I just wanted to let you know that even on unsupported hw it is possible to install and use W98 OS without issues.