Do you want a hardened point but unhardened taper?
Do you want the entire item unhardened?
What should the back end of it look like (tapped for drawbar, tanged, don't care)?
If an entirely soft item will do, use a Morse blank arbor.
If a hardened point is needed, a Morse blank arbor with a hard insert at the front.
Cut the flutes off a Morse taper drill. The taper portion is tough, but not hard. Turn a point on it.