When performing a similar type of impact simulation, consider the following recommendations for obtaining better accuracy and faster performance:
Switch to the Use Impact Constraints option in contact settings to enforce energy conservation at the contact interface. This option helps to maintain accuracy of the nonlinear transient response over long simulation times.
For rigid- or elastic-impact scenarios, use the HHT time-integration method with small numerical damping (0.1) to damp out high-frequency noise.