Make slow wifi connection for test purpose

I have some IoT device, which connects to cloud service via https connection through WiFi. My current task is to estimates device performance, when connection speed is low and ping is high. The problem is I cant re-configure application inside device to use proxy or something, only AP SSID and Password are configurable. Are there any ways to create WiFi AP, with artificially large ping and slow speed? I was thinking of PC, running WiFi AP and connected to the internet via Ethernet and those connections bridged somehow with Telerik Fiddler, which have ability to throttle traffic. But I found no guides on how to do this, actually I do not know if Fiddler is even capable of tunneling traffic that way.