In the design of high-entropy alloys (HEAs) with desired properties, identifying the effects of elements plays an important role. HEAs with eutectic microstructure can be obtained by judiciously modifying the alloy compositions. In this study, the effect of Nb addition to FeCoNiCuNbx (x = 0.5, 5, 7.5, 11.6, 15) alloys was studied by varying the Nb concentration (at.%). FeCoNiCuNb0.5 HEA shows liquid phase separation to form Cu-rich and FeCoNiCu-rich phases. Detailed solidification paths are proposed for these alloys, which show eutectic, peritectic, and pseudo quasi-peritectic reactions. Increasing Nb content promotes the liquid phase separation tendency and causes the formation of Cu-rich spheres. The effect of Nb on the FeCoNiCu-rich phase was studied based on the nanoindentation and correlated with nanohardness. The compressive deformation properties of these alloys are studied at room temperature and high temperature and correlated with microstructure. Fractography results show the mode of fracture and are correlated with the microstructure obtained.