The mag catch button is plastic, but the mag catch body ought to be steel (magnetic, when removed from gun).
The plastic button snaps over a raised rib on the end of the mag body, and if it (button) has to be removed for service it's supposed to be replaced with a new one.
I'd leave it alone as long as it's working normally. My well-worn CS45 & CS9 have the same mag catches (plastic buttons), and they've withstood many years of usage without problems.
The regular mag catch assemblies which use the thread steel nuts (buttons) require different frame machining and won't fit in the frames that originally come with the plastic nuts. FWIW, the mag catches with the threaded nuts often have to be adjusted (which is why they're threaded and use a plunger & spring), while the ones with the plastic nuts don't require adjustment.
As far as the 457's recoil spring guide rod assembly? There
should be a spring-loaded plunger at the rear of the rod. It snaps in & out of the rounded notch on the slide stop assembly's frame pin (holding the slide stop in the frame). S&W has used both plastic and steel plungers in some of the budget rod assemblies over the years. The older designs had the plungers staked into the rod bodies under a collar, while the newer designs are 1-piece (no more staked collar), and the plunger and it's spring are inserted into the rear of the rod.
The plastic plungers can sometimes get a bit "fuzzy" (worn) at the end, but the steel ones can sometimes develop a bit of a raised burr around the edge after a lot of field-stripping. I've used both in my CS9/45's.
The black (steel) body in these images is from one of my CS guns, and I think the plain finish steel unit is from my 4013TSW, but it's been a while since I took the pics.
Old staked units in middle & right, newer unit on left.
I'd replace a deformed rod assembly (or an older staked unit in which the collar could be turned/twisted in the rod bod by gentle finger tip pressure).