It's not clear from the plots you showhow  far away from "not working" the results are. I want to see an orthogonal view of the cut section and see the rigid surfaces as well as the deformation in the metal sheets. Without seeing that, it's not clear that the change in the material model made no difference.

One idea is to do these calculations in an axisymmetric model. The benefit is that the computation will be an order of magnitude faster, which make testing different material models or other treatments less time consuming.

When you say you are not getting the clinched result you want, is that because the simulation doesn't complete to the end or it does complete to the end but the shape is not what you want.  If it is the latter, maybe the problem is the shape of your punch and die.