Yes, that with the context makes sense.
However, a throttling node like you need would probably cause problems right now. Releasing just a few items at a time and then keep on processing until the “end” is not what n8n got build to do. So to allow something like that it would for sure need quite some changes.
What you, however, could do for now is to use the “Split In Batches” node like in this workflow:
You could so loop over all items one after another (or 5, 10 or whatever) and save in a Function-Node the last time it got executed (probably best in the node-context). Depending on that you can then do a timeout and wait.