Setup a Router with Guest Account to use with wireless CPE

I need to setup an RB951G-2HnD router with a guest account that will be used some of the time with a Groove configured as a CPE. The Groove configuration includes dhcp server and client and dhcp range for the groove ip addr. It includes firewall rules and NAT as well as DNS.

For the Router can a virtual AP be created with the same features for the secondary subnet ?

Yes, see https://wiki.mikrotik.com/wiki/Manual:Interface/Wireless#Virtual_interfaces

Thank you for a succinct and powerful reply. I will work on this, and when a configuration works will post a script for the group.
Might need some assistance on firewall rules to protect incursion by guest.