The driver will provide you with a virtual serial port. This port's speed (and other parameters) is configured in the same way you would a physical serial port.
As Geoffrey explains, the knockoff Prolific chips are troublesome on newer versions of Windows. If you get a genuine one, you'll be fine. FTDI and SiLabs also work well in my experience.
You don't want to slow down the USB data rate. You want to tell the microcontroller in the converter to transmit and receive data at a specific rate. As mentioned, you do that just as if it was a physical serial port. The driver takes care of the rest.