It's not clear what you want the ball initial conditions to be.
If you drop a ball from a height of 0.050 m (2 inches) the impact velocity will be 1 m/s. It takes 0.1 seconds to fall that far, but you don't need to simulate the drop.
To simulate the impact and bounce, in CAD, put the ball tangent to the plate, and in Mechanical, assign the ball a 1 m/s Initial Velocity in a Transient Structural analysis.
Insert a Frictionless Contact and in the Details of the Contact, under the Advanced section, Time Step Controls set that to Predict for Impact. Insert a Contact Tool under the Connections folder and make sure the Initial Contact Status is Closed.
Under the Analysis Settings, turn on Automatic Time Stepping and set the Initial Time Step size to 0.001 s, the Minimum Time Step to 0.00001 s and the maximum Time Step to 0.01 s. Make the End Time 1 s and you will see about 5 bounces.