The jaw of the hammer MUST be secured so that there is no flex, movement, bounce, etc.
If it does while your are hammering on it with your chisel, the point of the chisel will fail.
Vibration of the workpiece is the killer when doing any engraving/chasing/chisel work.
Carbide will work, but you all carbide is not the same. Carbide 'gravers' are not the same carbide as that used in other carbide tools.
Besides, carbide gravers are used to defeat extremely hard and tough steel. That's not the problem here.
A Carbide Graver will break it's point just as quickly when used against a surface that is not solid.
About the only good thing about a Carbide graver bit is that when they do fail, they don't just nub over to a dull point surface. They fracture and actually give you a sharp surface once again but it's usually very rough, uneven and off center of course. Some engravers don't seem to notice from looking at their work.
If the hammer jaw is secured tightly and supported correctly so there is no bounce or vibration, then most any steel cutting chisel will do.
Those little Die Sinkers chisels they sell are OK for finer work. But they are really kind of light for this type of stuff.
You want a HD chisel and hammer to be able to punch up a burr with but a couple strikes. Maybe even just one.
You can use a plain old 'cold chisel' for the job. Yes those large things with the big flat cutting edge.
A good quality one will easily cut soft steel.
Most every one has a few of the old ones around that have seen hard use and we wonder why we still have them.
The large mass of the chisel itself is a good thing as it won't bounce back when struck. It's a dead blow with a heavy hammer against a solidly secured surface.
That's what you want. ,,and you don't have to strike the chisel very hard either. The heavy mass of the hammer pluss the chisel do the work.
It's the same idea used to hand 'stitch' a file surface.
Sharpen the old chisel's cutting edge to take advantage of one of the ends of the flat edge.
Grind the face to approx a 50 or 60* angle going fom one edge up to the other.
Add a little heel angle under the point so the chisel has some lift. Shape the point any way you want,,a V or a U,,doesn't matter.
It'll throw a burr up like a rough cut rasp with a couple hammer strikes.