(AlCrTiMoV)N high entropy nitride film was prepared on 17-4PH stainless steel substrate using cathodic arc evaporation (CAE). The composition, microstructure, and thermal stability were investigated using scanning electron microscopy (SEM), transmission electron microscopy (TEM), and X-ray diffraction (XRD). Mechanical properties such as hardness and Young’s modulus and coating performance against wear and erosion were also evaluated. The results show that the (AlCrTiMoV)N coating assumes a single-phased solid solution B1 FCC structure. It has excellent thermal stability and retains its structure with no decomposition observed up to a temperature of 1000 °C. The hardness and elastic modulus are measured as 21.3 GPa and 304 GPa, respectively. The coating contains some metallic droplets. As a potential protective coating, the (AlCrTiMoV)N coating has a lower wear rate but a higher erosion rate when compared to the TiN baseline coating.