Yes, it is prescribed to say Iqamah even when praying a delayed salah. It is recorded that the Prophet ﷺ had the Iqamah said when the prayers were delayed on the occasion of the Battle of Ahzab:
إن المشركين شغلوا رسول الله صلى الله عليه وسلم عن أربع صلوات يوم الخندق حتى ذهب من الليل ما شاء الله فأمر بلالا فأذن ثم أقام فصلى الظهر ثم أقام فصلى العصر ثم أقام فصلى المغرب ثم أقام فصلى العشاء
The idolaters kept Allah's Messenger ﷺ distracted from four prayers on the Day of Al-Khandaq (the battle of the Trench) until as much as Allah willed of the night had passed.
So he ordered Bilal to call the Adhan, then he called the Iqamah to Zuhr, then he called the Iqamah to pray Asr, then he called the Iqamah to pray Maghrib, then he called the Iqamah to pray Isha.
— Jami at-Tirmidhi , Sunan an-Nasai
Note that Iqamah for a congregation is either Fard al-Kifayah or Sunnah Mu'akkadah depending on the madhab. While for an individual it is mustahab.