It can be possible if you have all the files which are not broken or even contains missing bits also the second thing to take in account does they're game having licensing and did they confirm they're okay with another server to be opened for this game and the final thing to bring up is that some people might want to help you out depending on if you can expand on this info if you have files ect..?
If not then I would probably say go looking around for some if you cannot find any files hanging around then I can possibly say it's not possible unless there is something to work off for example a server source & Client Source or just a server source and a plain Emulator.
Also curious what the tag is? [Face Of Mankind] instead of Is this possible to do? Considering it's about that game in general.
If this is not the answer you are looking for please let me know!