5G sidelink technology recently presented its unique potential for precise positioning using time delay estimates, although environmental conditions and the reference signal used highly influence the performance. Given the complexity of simulating all potential environmental impacts in a particular scenario, carrying out measurements within the specific environment becomes necessary. This paper introduces a flexible experimental platform to support research in designing the protocol, waveform, and time delay estimation algorithms, offering configurable transmitting signals and radio frequency (RF) parameters. Furthermore, this platform can emulate potential timing errors due to hardware constrains, offering a more practical understanding of 5G sidelink ranging applications.