Hello,
Since Confidential VMs do RAM encryption, what you could do is a memory speed test [2] of a certain type of instance, and then do the same with a Confidential VM instance [3] of the same type.
Regarding the low latency, I would suggest you instances in GCP use the Premium Network service [4] to start with.
Regards,
Frederic
Google Cloud Platform Support
[2]
sudo apt-get install sysbench
sysbench --test=memory --memory-block-size=1M --threads=140 --memory-total-size=10G run