Is joystick axis inertia possible in Input Manager?

I have a circle that can freely float around in 2D space. When using the keyboard, I've managed to achieve a kind of floating effect with the gravity option in Input Manager. However, with a controller, this effect doesn't work.

I'm pretty sure that this is because digital inputs are being smoothened out (it takes some time before reaching maximum value and max back to zero), but with analogue, it gives the raw value immediately (which leads to abrupt stops and acceleration).

My question is:
Is it possible to somehow achieve this effect through IM, or do I have to simulate intertia in the movement script of the object?