Do you have a pic of your fixed steady arrangement you could post up? That in itself would be interesting.
JB’s suggestion of stitch drilling seems the best and most economical way forward if you decline to investigate thick walled tubing. My local foundry would cast separate pieces for far less than that, I would guess!
Do these have to be such large and hefty pieces? Is there heat involved? If not, I would likely go for thin walled steel pipe and reduce with a resin or some such filler material. Something seems “over-kill” to me.
I, too, run a Raglan lathe. Easily up to cutting far more than 4 thous at a time, but I would not be cutting a 4” hole that deep in to solid….