Materials exhibiting significant polarisation at high spin rates are considered the most promising candidates for spintronic devices. This study investigates the mechanical, optical, spin-polarised electronic structure, magnetism, and thermoelectric properties of CoIrMnX (where X = Sn, Sb). We performed calculations of quaternary Heusler alloys using first-principles calculations. The CoIrMnSn and CoIrMnSb compounds have the most stable Type III crystal structures, according to the calculations performed on the alloys under investigation. We found that the two alloys, CoIrMnSn and CoIrMnSb, possessed a half-metallic ferromagnetic structure, characterised by indirect band gaps of 1.008 eV and 0.806 eV in the predominant spin channels, respectively. Both alloys demonstrate a significant overall magnetic moment of 5 and 6 μβ, respectively. CoIrMnX (where X = Sn, Sb) are ferromagnetic half-metals with 100 percent spin polarisation, according to the results. The results of the elastic constants demonstrate the alloys' mechanical stability. We also investigated optical characteristics such as dielectric function, absorption, reflectance, and optical conductivity. CoIrMnX (where X = Sn and Sb) acts as an efficient absorber in the ultraviolet region and possesses a high refractive index. Alloys exhibit considerable potential as viable candidates for implementation in spintronic devices. The maximum ZT value for CoIrMnSn (CoIrMnSb) is 0.915 (0.6619). To achieve this value, it is necessary to either reduce the charge carrier concentration to n = 0.0812 x 1020 (0.0952 x 1020) cm-3 or the μ to 0.83843 (0.83806) Ryd. Substantially examined materials demonstrate considerable potential for application in the field of thermoelectrics.