This is what the guy from eccentric means by a form tool, it is a piece of metal thet is ground or cut to the negative of teh shape you want to form. If small they can be ground from an HSS toolbit, if large as in this case then better to use gauge plate also known as ground glat stock.
To do a half round drill or bore a hole in your gauge plate, saw inhalf across the centre line of teh hole, use a dremel to put relief on teh underside of teh cutting edge then harden and temper.

As your rounded edge is quite wide and the job of a large dia you would probably be better off making the tool a quater circle and then when one side is done reverse the work in the lathe and do the other side. Still going to be quite a wide cut so you will need a reasonably sized lathe.
If you are not happy grinding a tool then I think RDG do radius forming tool bits ready ground or as suggested above a rounding over router cutter can be used.
You probably don't really need to have as rounded an edge as the one in the photo, just turn it like a disk flywheel and round off the corners to say 3mm radius so you don't rip up your hands anymore than needed.
J