rb,
The exact geometry of your welded prototype will be difficult to forge, for several reasons. First, the aspect ratio of the blades is high, meaning that they are long/tall and thin, which is not ideal for forging. Adding some draft to the surfaces would help, but I am not sure if that will then interfere with its intended use. Second, there are two protrusions that are welded where the hex shaft meets the flat plate. These would be difficult to fill out because they are perpendicular to the predominant plane of the part.
I would probably consider this as a 2-piece design: one part for the blades probably the flat plate and another part for the shaft and the tabs. Forge the shaft & tabs together in one piece, then join to the other part, which looks like it could be cast quite readily, although this is not likely to be as favorable as a forging for finished mechanical properties, toughness, and durability.
Jackhammer chisels are made from quenched and tempered steels, such as 4340 alloy steel or S7 shock-resistant tool steel. Induction hardening can be used to locally increase the surface hardness while retaining a ductile, fracture resistant core.