Phantasm

The rate of fire climbs over the opening volleys and then settles at its top speed, and the moment you release the button the whole ramp resets. Tapping keeps you stuck at the slow opening rate forever. Every time you stop to dodge and start again you pay for the wind-up a second time, so this bow is at its best when the fight lets you commit to long firing windows and at its worst against anything that keeps forcing you to break off. Attack speed modifiers do nothing to the ramp.

Each pull spends a single arrow and throws a loose group of four. Their speeds are randomized individually, so the group fans apart over distance instead of arriving as one clump. Velocity modifiers do not tighten it. On top of that there is a strong chance the arrow is not consumed at all, which no other ammo-using weapon in the game does natively, so past a certain stack size ammo stops being a thing you plan around.

Whenever one of your arrows connects, extra homing shots spawn and chase that same enemy through solid ground. They will not touch anything else. They phase harmlessly through other bodies on the way, they carry no knockback, and they wink out fast if the target dies or despawns. That is the whole reason this is the single target answer and the Vortex Beater is the crowd answer. Worth knowing: the effect triggers off any arrow you land, not only the ones this bow fired, with a short list of exceptions.

So much of the output is your arrow duplicated several times over that ammo choice moves the number more than anything else you can change. Ichor Arrows are the pick against a lone boss before Moon Lord goes down, since the defense reduction applies to every shot in the burst. Chlorophyte Arrows suit the scattered mess of the lunar events better. Luminite Arrows take the job over entirely once you can craft them.

Speed and velocity rolls are dead stats here, because both the firing rhythm and the arrow speeds are written into the weapon rather than read off it. Only damage and critical chance change your output, so anything in that group is equally correct.