I've seen ISP routers massively increasing latency in conjunction with packet loss -- had a problem with one provider recently where packet loss would increase every evening, and so would the rtt. Suggests large buffers on the congested part. The reverse DNS of the given IP suggested it was a gig-e connection (my side of the hop, which was also into LINX, is 100G)
Of course you can hide a router by not decrementing the TTL as it passes through your network at layer 3, you can hide the IP by not responding with ICMP expired messages
An ICMP could well return on a different path to the direction it was sent, with a path like this
Host -> R1 -> R2 -> R3 // R3 -> R4 -> R5 -> R1 -> Host
Traceroute will only show the outbound route, so you should traceroute from both ends
The latency will also be affected by ICMP generation on the router, which could be delayed, rate limited, dropping, etc.
Doing a quick traceroute to a host of mine in Sydney, from London, shows
5ms to i-91.ulco-core02.telstraglobal.net 202.40.148.33
82ms to i-10104.unse-core01.telstraglobal.net 202.84.141.145
132ms to i-10601.1wlt-core02.telstraglobal.net 202.40.148.106
277ms to i-10406.sydo-core04.telstraglobal.net 202.84.141.226
sydo will be sydney
To get the exact map I could talk to Telstra (in this case I peer with telstra directly in London)
Or I could look at telstra's map, which ddg helpfully tells me is at
https://www.telstraglobal.com/network-infrastructure-map/
Sadly the map doesn't work very well, more form over function
ddging 1wlt-core02.telstraglobal.net returns this though
https://crowdsupport.telstra.com.au/t5/home-broadband/bad-ro...
Which tells me 1wlt is LA. unse will thus be east coast U.S. I'd have expected routing via Singapore.
There's no way to know which way the traffic is actually going without asking Telstra.
I have 2 ethernet circuits from the UK to Washington DC, to me it looks like two layer 2 1500MTU circuit. Only by talking to the provier can I work out which circuits it actually travels on trans atlanticly. It's supposed to be separate, but latency changed by 2ms a few days ago. Asked them about it, and there was a failure in their network, they rerouted in a few hundered milliseconds (which isn't good as now both diverse circuits run via the same equipment, thus any issues like another 100ms outage will cause an impact)