This study examines the influence of vanadium carbide (VC) on the physical and mechanical properties of SiC–VC composites fabricated by a modified spark plasma sintering (SPS) method at a uniaxial pressure of 45 MPa. It was found that the addition of 40 wt.% VC into the SiC matrix led to a substantial reduction in porosity from ca. 30% to less than 8.2% and caused enhancement of the properties. Fracture toughness increased from 2.9 to 7.0 MPa·m1/2, and hardness rose from 2.9 to 22.6 GPa. In the SiC–VC system, vanadium carbide acted as a grain growth inhibitor and particulate reinforcement. A sintering temperature increase from 1900 °C to 2000 °C resulted in a ~70% improvement in hardness and a ~50% gain in fracture toughness. The results highlighted the critical balance between densification parameters and microstructural stability. Utilization of n-dimensional vector space of material features, Mahalanobis distance, and Pareto trade-off optimization helped to describe the features of the newly obtained composites and to optimize the manufacturing process.