The ADM3053 is compliant with ISO11898. Whether its baud rate range is 150kbps-1Mkbps, the minimum baud rate is 150kbps. Can you have a lower baud rate?
ADM3053 has no minimum baud rate, because it has no "dominant timeout" (it won't bring CANH/CANL recessive even if TXD is still held low for a long time). The part will operate normally even at very low bit rates.
If dominant timeout is needed as well as low data rates (but only to 9600 bps), ADM3055E provides similar functionality (with improved iso DC-DC, isolator and CAN transceiver performance). ADM3055E minimum data rate is 9600 bps due to the dominant timeout function.
Can I use the following circuit to make the ADM3053 operate at a baud rate of 40KBPS?
This circuit also allows the ADM3053 to operate at 40KBPS?
I would expect the protection components would not interfere with communication. But this list of protection components form the LTC2875 datasheet have not been tested with the ADM3053 transceiver. The two transceivers are different, and these components may or may not be effective at protecting the ADM3053 transceiver. The combination of components would need to be proven out.
The LTC2875 transceiver is available as an integrated isolated signal and power solution though. The LTM2889 has the LTC2875 transceiver integrated.