Yes, you can play PUBG on the Vivo V3 as the device comes with the Qualcomm Snapdragon 616 MSM8939 with 3GB of RAM. But the experience would be bad as the device and the processor, both are much old now.
Still, you can play at low graphic settings and enjoy a little bit.
Check Full Device Specifications Vivo V3
Steps to root Vivo V3:
Download One Click Root. Download and install One Click Root.
Connect Your Device. Connect your Android to your computer.
Enable USB Debugging. Open 'Developer Options'
Run One Click Root. Run One Click Root and let the software.
To check all the other details of the device use, this link: Vivo V3