There will never, ever be an update for a version as old as CS3.
It's probably unlikely it will work, but give it a try and let us know.
Not likely to be trouble free, but Microsoft is better than Apple when it comes to backward compatibility so it’s not out of the question.
Try it and see how it goes but be prepared for problems and to be on your own. CS3 isn’t supported on anything later than Windows 7.