In this work, ceramic particle and metal matrix interfacial delamination in transformation-induced plasticity steel composite reinforced with magnesium partially stabilized zirconia particles is investigated using a parametric modeling approach. The global behavior of the composite is modeled using elastic and Johnson-Cook plasticity models for the ceramic particles and the austenite matrix. Interfacial degradation is implemented through a cohesive zone model with a traction-separation law. Both perfect and damaged models are considered in the global stress-strain curve analysis. In the damaged model, the plastic region is characterized by softening and hardening stages, corresponding to unstable and stable crack propagation, respectively. To comprehensively identify the interfacial evolution, parameters such as normal contact strength, normal separation and stiffness degradation are evaluated along the particle/matrix interface. From a statistical perspective, the mechanical behavior of the system is analyzed through the kernel distribution plots for both the particles and the matrix. As the strain level increases, right- and left-skewed distributions are observed in the particles and matrix, respectively, particularly under high-strain conditions. Consequently, in the plastic hardening region, the median value exceeds the mean value, indicating that relying solely on the average stress value results in an underestimation during significant delamination.