This study established a numerical model for a foundation pit at the Zhongyilu Station of the Wuhan Metro Line 12, using Plaxis3D version 2021 finite element software to examine the horizontal displacement of the diaphragm wall, ground surface settlement, and differential settlement between the diaphragm wall and the lattice columns across various construction stages. A comparison with the cut-and-cover method prompted the adoption of a strategy that integrates segmental pouring of the main structure and the installation of internal supports to optimize the original scheme. The results indicated that as the foundation pit was excavated, both the horizontal displacement of diaphragm wall and the ground surface settlement gradually increased, while the differential settlement between the diaphragm wall and the lattice columns shows exhibited an initial decrease followed by an increase. In comparison to the cut-and-cover method, the cover-and-cut method demonstrated greater efficacy in controlling foundation pit deformation and minimizing disturbances to surrounding environment. As the number of segmental pouring layers and support levels increased, the overall deformation of the foundation pit showed a gradual decreasing trend, and the differential settlement between the diaphragm wall and the lattice columns continued to fluctuate. When each floor slab was poured in three layers with two supports placed in the middle, the maximum horizontal displacement of the diaphragm wall could be reduced by 22.47%, and the maximum ground surface settlement could be decreased by 19.01%. The findings in this research can provide valuable basis and reference for the design and construction of similar projects.