Looking in my settings I don't see a setting to switch. Though I would assume it only has one antenna for hotspot. N would be better anyhow as it usually runs 130 Mbps as opposed to g's 54 Mbps.
Now in the regular WiFi settings, you have the option of switching between 2.4 GHz and 5 GHz networks. I'm not sure if this effects the hotspot, but you might play around with it and see. I know 5 GHz has a reputation for dropping. I personally have not had this issue.
Either way, if you play around with the GHz please come back and post the outcome here.