This study focused on optimizing the hot forging process for AISI 1045 medium carbon steel ball joints, which is crucial for enhancing both their mechanical properties and production efficiency. Traditional hot forging processes often face challenges due to variations in flow stress and microstructural outcomes, which can result in a suboptimal product performance. To address these challenges, this research employed the Taguchi method in conjunction with a finite element (FE) simulation to identify the optimal forging parameters. The Arrhenius constitutive model, based on the Zener–Hollomon parameter, was applied to predict the flow stress with a high level of accuracy, achieving a coefficient of determination (R2) of 0.968 and an average absolute relative error (AARE) of 7.079%. An analysis of variance (ANOVA), a statistical innovation that partitions the total variation into components linked to key process factors, was utilized to determine the significance of these parameters. The ANOVA revealed that the billet temperature played a significant role in influencing the preforming force, finishing force, and mean stress, with a maximum impact of 62.30%, 59.50%, and 94.20% on the variation in the response variable, respectively. Additionally, the friction factor significantly affected the preforming and finishing forces, contributing 36.19% and 38.28%. The validation of the model through both simulations and practical experiments is a testament to the reliability of this research, demonstrating the accuracy of the model with minimal discrepancies in the forging forces and exhibiting errors of just 2.88% and 3.40%. Furthermore, microstructure modeling successfully predicted the key outcomes, such as the grain size and pearlite volume fraction, validating the effectiveness of the simulation in forecasting microstructural characteristics.