Microstructural phase evolution during melting and casting depends on the rate of cooling, the collective mobility of constituent elements, and binary constituent pairs. Parameters used in mechanical alloying and spark plasma sintering, the initial structure of binary alloy pairs, are some of the factors that influence phase evolution in powder-metallurgy-produced HEAs. Factors such as powder flowability, laser power, powder thickness and shape, scan spacing, and volumetric energy density (VED) all play important roles in determining the resulting microstructure in additive manufacturing technology. Large lattice distortion could hinder dislocation motion in HEAs, and this could influence the microstructure, especially at high temperatures, leading to improved mechanical properties in some HEAs. Mechanical properties of some HEAs can be influenced through solid solution hardening, precipitation hardening, grain boundary strengthening, and dislocation hardening. Despite the HEA system showing reliable potential engineering properties if commercialized, there is a need to examine the effects that processing routes have on the microstructure in relation to mechanical properties. This review discusses these effects as well as other factors involved.