Coherent tunneling processes of multiple Cooper pairs across a Josephson junction give rise to higher harmonics in the current phase relation. In this work, we propose and study Josephson junctions based on semiconductor-superconductor-ferromagnetic insulator heterostructures to engineer nonsinusoidal current-phase relations. The gate-tunability of charge carriers density in the semiconductor, together with the adjustable magnetization of the ferromagnetic insulator, provides control over the content of the supercurrent harmonics. At finite exchange field, hybrid junctions can undergo a 0π phase transition, resulting in the supercurrent reversal. Close to the transition, single-pair tunneling is suppressed and the current-phase relation is dominated by the second-harmonic, indicating transport primarily by pairs of Cooper pairs. Finally, we demonstrate that non-collinear magnetization or spin-orbit coupling in the leads and the junction can lead to a gate-tunable Josephson diode effect with efficiencies of up to ∼ 30%.