I don’t have all the details to hand but IFS provides a tool (may depend on version?) to backup an existing Application Server that can then be used to either restore as a backup or restore it as a clone with a different name, which is what you would need.
Look in the instance\<name>\bin folder for the create_backup.cmd file. Details for use including parameters should be in the F1 tech docs or maybe you can review the cmd file itself.
There is then a restore_clone equivalent that is used to extract and rename the target instance that you would then use.
Nick