You can easily install this in your described hardware.
See this Routers with QCA9531
You can install one of them in this router, for example you can try TL-WR810N or other TP-Link models but first you need a compatible bootloader.
You can try this Breed-QCA953X
I have recently installed Openwrt on unsupported device with QCA9533 Read This Tutorial
So it is possible to install openwrt if your device have supported CPU, at least 32MB Ram & minimum 8MB of Flash, However if you want to install additional packages later 32MB Ram may be insufficient.