1. You didn't change the Step End time from the default of 1 second to something relevant to your problem, like 1e-2
2. You have an Initial Time Step of 3.7e-3, but the object travelling at 3700 mm/s will have moved 13.69 mm in that time. Try an Initial Time step at least 10 times smaller, I have set 1e-4 and I set the Maximum Time Step to 1e-3.
I ran with the settings above and here is the contact pressure result. You can see that at 1e-2 seconds, the ball has bounced off the bar.
Here is the directional velocity of the ball. It starts at the initial velocity, and rebounds with a smaller velocity.
You have two planes of symmetry that would allow you to solve a 1/4 model, saving you some time.