That's what I do, I use a Dell SFF system running Pfsense, with Ubiquiti NanoHD AP's for WiFi. Runs great, no issues and after set-up it just works.I run an R210ii, it's running Windows Server 2019 and I have pfSense in a VM along with Unifi Video and Home Assistant on their own VM's. I keep that machine as my priority machine so that almost never gets touched.
If you don't want rackmount hardware then an old SFF Dell/HP system will be ideal. Low power, quiet, small, upgradeable and you can easily slot in a quad port NIC should you want to.