Not a Linux distribution, but the BSDs (e.g. FreeBSD or OpenBSD) generally have low hardware requirements. Another option could be e.g. Slackware Linux or Arch Linux.
But as @NobbZ says, regular desktop environments will probably be slow. So you either have to use a lightweight desktop or a plain window manager.
At any rate, I think you’d get better answers on a general Linux forum like LinuxQuestions or /r/FindMeADistro.