To reduce power consumption of Rapid-IoT, you have multiple strategies you can think of:
First, you can lower the clock of MCU's to save power, depending on your change this can affect connectivity stack, I recommend you to proceed carefully on this one.
Secondly, you can put main MCU that is K64F in WAIT, SLEEP, DEEPSLEEP modes. To know more about those features, please take a look at this application note: https://www.nxp.com/docs/en/application-note/AN4503.pdf

The last thing you can do is to turn off power switches on certain sensors that are energy-consuming like Air quality sensor, A1006 authentification, and ofc if you don't need it, display.

I recommend you do those changes via MUCXpresso IDE.
Regards
Theophile