That’s not the way “latency” is commonly used in my experience.

Latency numbers always include queuing time - so the measures are not related or derivable from each other.

A process might have a throughput of 1 million jobs per second but if the average size of the queue is 10 million then your job latency is going to be 10 seconds on average and not 1 microsecond.

There's no queue if you only have one task…