The steel I would use in this application, if heat treatment were not
part of the job, is C1144 for preference, or 4140 heat treated and
stress relieved.

Both have a yield strength in excess of 100,000 PSI, and the C1144 is
also quite hard and reasonably wear resistant, while a pleasure to
machine.

I use C1144 also to machine crank shafts from the solid, but that's
another story.

Wolfgang