Sample code used from:
https://mpython.readthedocs.io/en/master/library/micropython/_thread.html

import _thread
import time

def th_func(delay, id):
    while True:
        time.sleep(delay)
        print('Running thread %d' % id)

for i in range(2):
    _thread.start_new_thread(th_func, (i + 1, i))

MicroPython v1.21.0 on 2023-10-06; Generic ESP32 module with SPIRAM with ESP32

Traceback (most recent call last):
File "<stdin>", line 10, in <module>
OSError: can't create thread