What you are attempting is a bit tricky.
Unless you are prepared to move the IoT devices to main wireless network, you will have to be inventive.
There is a method.. after a bit of pondering Apple routers just happen to be one of the few devices that can assign a lot of static IP addresses.. most routers have a fairly limited set. Usually about 20. It takes a lot of space in NVRAM which is limited in most routers. Apple might store it differently. They seem to have a fairly large flash and must assign a fair amount to settings.
What you would need is to buy another Apple wireless router like AC version airport extreme.
It will need to be used in a special mode neither router nor bridge.. but DHCP. Since the airport will be handling the IoT stuff it will need DHCP turned on.. although you could also do this in the main TC and use a different wireless name on the Extreme. So there are a couple of solutions. It is not easy to find DHCP reservation limits on most routers as they seldom list it in specs and you need to look up each one. Strangely enough the Apple router is actually well suited to this job.
BTW.. what model is your Time Capsule??