As a C++ question the answer must be that the program contains a data race, so the behavior is undefined. In reality that means that it could print something other than 42.
That is independent of the underlying hardware. As has been pointed out, the loop can be optimized away and the compiler can reorder the assignments in thread 1, so that result can occur even on uniprocessor machines.
[I'll assume that with "uniprocessor" machine, you mean processors with a single core and hardware thread.]
You now say, that you want to assume compiler reordering or loop elimination does not happen. With this, we have left the realm of C++ and are really asking about corresponding machine instructions. If you want to eliminate compiler reordering, we can probably also rule out any form of SIMD instructions and consider only instructions operating on a single memory location at a time.
So essentially thread1 has two store instructions in the order store-to-x store-to-f, while thread2 has test-f-and-loop-if-not-zero (this may be multiple instructions, but involves a load-from-f) and then a load-from-x.
On any hardware architecture I am aware of or can reasonably imagine, thread 2 will print 42.
One reason is that, if instructions processed by a single processors are not sequentially consistent among themselves, you could hardly assert anything about the effects of a program.
The only event that could interfere here, is an interrupt (as is used to trigger a preemptive context switch). A hypothetical machine that stores the entire state of its current execution pipeline state upon an interrupt and restores it upon return from the interrupt, could produce a different result, but such a machine is impractical and afaik does not exist. These operations would create quite a bit of additional complexity and/or require additional redundant buffers or registers, all for no good reason - except to break your program. Real processors either flush or roll back the current pipeline upon interrupt, which is enough to guarantee sequential consistency for all instructions on a single hardware thread.
And there is no memory model issue to worry about. The weaker memory models originate from the separate buffers and caches that separate the separate hardware processors from the main memory or nth level cache they actually share. A single processor has no similarly partitioned resources and no good reason to have them for multiple (purely software) threads. Again there is no reason to complicate the architecture and waste resources to make the processor and/or memory subsystem aware of something like separate thread contexts, if there aren't separate processing resources (processors/hardware threads) to keep these resources busy.