Is it possible to make PoW ASIC-resistant through dynamically generated hash chains?
There cannot be such a thing as an “ASIC-resistant” algorithm. ASICs are designed specifically to implement an algorithm and will always be faster than any CPU.

On the other hand, it might not even be a good idea to have ASIC resistance, because ironically, the ASICs would be the ones optimized for this and the general-purpose computers would be left behind, while also being way worse for energy consumption (something which seems to bother many people).

Source: https://download.wpsoftware.net/bitcoin/asic-faq.pdf