Please let me know if the following information is what you were looking for.
The answer is easier if you wanted to know the deformation on part 2. You may set up a drop test if the time after initial impact you want to simulate is short.
However, since you are interested in part 1, you can please set up a nonlinear dynamic study by following these steps:
* Assign material properties for the bodies
* Assign no penetration contact type between part 1 and part 2.
* Make the part 1 fixed.
* Apply "Initial conditions" type external loading. Give an initial velocity of 400 m/s to part 2.
* Give any damping coefficients (If the time frame after impact is very short there might not be significant damping. If not you might need to determine the coefficients of Rayleigh damping).
* Simulate the study for a particular time after initial contact between the two bodies.
* See the deformation results as a function of time on part 1.