42CrMo4 hardened and ground, is by far the most used material for pins in earth movers. We allways lathe a small recess on the pin so the tab plate is aligned on a 2mm edge, then the rest is lathed to a 45 angle as thick as the tab plate minus aforementioned 2mm, so it can be welded flush.
42CrMo4V has a high carbon equivalent, so it easily gets hardening cracks in the heat affected zone, or HAZ. Mostly tabs are welded with high amps, high heat input so the mass of weld cools slower to the mass of the pin. In case of problems, preheating the pin and tab is the only way to get the same strength as a weld in mild steel.