Let’s first talk about the reasons:
1). Adding a second wifi can actually create more interference. There are a limited number of WiFi channels and the frequencies these run at over lap with their neighbouring channels. Basically only channels 1,6,11 do not overlap, so if you set your ISP WiFi to channel 2 it will interfere with Channel 1.
2). Just adding a second wifi is not going to change the security as connecting to the WiFi will still just require a password.
3). The ISP WiFi is provided by their router which sits in your premises and hence will not be affected by things happening outside of your home. Yes, the ISP router can fail but so can any other WiFi router / Access point you install.
So, in essence if you have good WiFi coverage from the ISP router in your house then just stick to using that. If you do not have good coverage then you ideally should look at a Mesh system.
With that said, if you really want you can run multiple Access Points on a single network. First, login to the Virgin Hub5 and go to the WiFI settings, set a suitable SSID and Password for your LAN. Ensure the wifi channel is manually set and set it to one off 1,6,11 - I would suggest you use a WiFi analyzer on your mobile phone to see which off those has the fewest access points at the spot where your router is.
Next, configure the TP-Link Archer so that it will be used as an access point. You should disable DHCP and give it a static IP Address for the LAN - you will not be using the WAN port at all so should be able to ignore those settings. Set a suitable SSID and Password for the WiFi and ensure you do manual channel selection choosing a different channel to the Virgin Hub5 but still one off 1,6 or 11. Finally connect one of the TP-Link Archer LAN ports to a Virgin Hub5 LAN port via ethernet.
This will give you a single flat network but with separate SSID’s and Password for connecting devices to. As a side note, you can connect any device to either WiFI, so you could potentially just give them the same SSID and Password which will allow devices to connect to either and is a good way to extend the range of your WiFi cheaply.
If you want to add security then you should look at a VLAN capable router. This can be as simple as OpnSense / pfSense running on a small NUC or Unifi UDM Pro. You should then look for VLAN aware access points creating at least 2 separate SSID’s - one for the LAN and one for IOT. You would need to put the Hub5 into modem only mode which means it will provide the ISP assigned IP address to the router behind it.