Darren,

Your table saw should be good enough.
Take special care to cut the strips with consistent equal thickness.
A finger board will help with consistency. Doing the final cut on every strip at one time will make them equal thickness.

4x4's will work fine, but your 10" (????) table saw will only cut 3 1/4" deep generally.
So the first cut has to be taking off~ 3/4" by making one cut partial depth, flipping the board end for end and making the matching cut. This can be difficult if the post is not square - and it usually won't be. So 1"+ is usually required.
After that you can cut straight thru.

I suggest you cut planks and then scarf them together before you cut the strips. Use Epoxy, no messing around with other glues. This way you get long strips, conserve wood, and the scarfs have a perfect continuous surface you won't have to be repairing on the boat.

However, I don't do this because I don't want to deal with 15' strips. They are difficult to handle while fitting the edge (I'm assuming you are not using B&C strips)
My boats use butt joints, which can be done on the boat well enough to not draw a lots of attention.
But that's a personal choice.

When you scarf the planks together get some method to hold the boards straight as they glue. I have some 3x3 aluminum angle stock which I use, clamping the boards on each side of the joint and at the joint.

Cut out all the knots - the grain breaks easily if it is not almost straight down the board.

Just one note - due to knots I generally go thru a rick of boards at Home Depot and find only 1-2 that I can use. I would suspect that many of your posts will have very little usable wood for strips.

Good luck,

Have you picked a boat?