Charpy testing a piece of notched piece of steel — not a specifically heat treated knife edge with no notch — by slamming a steel weight into it does give an indication of the impact toughness of that particular steel alloy.
But my sense is that the test is not very good for predicting the toughness of a particular knife. Hitting a pre-notched chuck of steel is different from chopping with a knife that has no notch in it and is heat treated to achieve some particular property or set of properties.
Even if the steel tested is controlled for Rockwell C hardness, the microstructure of the steel can be quite different and have a large affect on the performance of a knife blade.
In addition, toughness is not just impact toughness, but also toughness under stress. Those are two different conditions.
I had a CPM M4 knife blade re-heat treated to 64 Rc, and, for reasons I don’t know, was so brittle I could and did break it with just hand pressure. I have another blade in CPM M4 that I could never break — and I have tested it at pressure much higher than the first knife. So what is the toughness of CPM M4 at 64 Rc? The answer is that it depends on the heat treat, which changes — for better or worse — the microstructure of the steel.
But it’s easy to check for hardness, not as easy or cheap to check for the microstructure of the steel being tested at that hardness. Good heat treating can make the grain size as fine and uniform as possible for that steel — or not.
Here are some quotes from Crucible that I cherry picked from the link below:
Toughness testing is not as standardized as hardness testing.
It may be difficult to correlate the results of different test methods. Common toughness tests include various impact tests and bend fracture tests.
…
Toughness data is useful to predict which steels may be more or less prone to chipping or breakage than other steels,
but toughness data cannot alone predict the performance life of a knife.
…
Knife steels are usually supplied in the annealed condition to facilitate manufacture. These steels must be heat treated to develop their characteristic properties. The heat treating process alters the alloy distribution and transforms the soft matrix into a hard matrix capable of withstanding the pressure, abrasion and impacts inherent in knife use.
Each step of the heat treating cycle is designed to perform a specific function, and, like links in a chain, the final product is only as good as its weakest component.
https://www.crucible.com/pdfs/SelectorKnifePocketRotatedCrucibleLLC.pdf