I suspect that you could do that but an ARC 1883 really would be an investment towards a future system upgrade. I do not remember your system (I did search PPBM5 results unsuccessfully) but did not find your data. So some of the expensive advantages of the newer board you could not utilize with your older motherboard/disk components. Why don't you check with Areca to see if they have a lower price older option, unless you are considering a major system upgrade in the not to distant future I just ventured to my junk filled basement and checked on one of my very early builds that has an Areca controller in it but unfortunately it was the preceding generation an ARC-1680 model.
You might check ebay for a used one or I think the one I just looked at on Amazon appears to be unused. Maybe Areca has refurbished older models.
Checking some of my older forum posts I found that I had encountered this issue before.
It turned out that my problem was just the motherboard's battery had died. We're talking about a 99 cent battery!
I replaced the battery with a new one.
And the PC booted up just fine.
(This was after I totally disassembled the computer -- testing the power supply with the "paper clip" method, reconnecting all of my cables.
By chance, I found that old post. And, at least for now, all is fine.
Great to have this forum and pros like you -- and Harm -- and all the others -- as a great place for troubleshooting and expert help!!!