Apple has made it extremely easy to set up Wi-Fi hotspot on iPhone and other iOS devices. The Wi-Fi hotspot feature allows users to share their cellular data. This feature becomes extremely helpful when there is a network outage or any Wi-Fi connectivity issue. Not only iOS users, but Android users too can connect to the Wi-Fi hotspot on any iOS cellular device.
1.

Go to Settings

2.

Tap on Personal Hotspot

3.

Toggle on Allow others to Join

4.

Enter the password of the Personal Hotspot, if asked

You can set your own password if you want to give access to limited people.

There are also other ways through which you can connect your Personal Hotspot with other devices.

Set up Wi-Fi Hotspot using Bluetooth
Pair your iPhone with your desktop
Tap Pair on iPhone and enter the code displayed on the screen
Enter the password when asked

Set up Wi-Fi Hotspot using USB
Plug your iPhone into your computer
Choose the iPhone from the list of network services that appear in settings (the registered name of iPhone owner would be showing)
Click on Wi-Fi icon that appears next to the iPhone
Enter the password, if required. Once done, you are connected

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Source: https://www.gadgetsnow.com/how-to/how-to-set-up-wi-fi-hotspot-on-iphone/articleshow/92111778.cms