Hey @ojagtap
You need a Riemann solver for what you intend to do. A pressure-based solver on collocated grids needs modified Rhie-Chow interpolation to be shock capturing, because the traditional RC interpolation for smooth flow is simply too dissipative for shocks. The pressure-based solver in OpenFOAM does have a transonic formulation, but it is only able to capture weak shock ( not even gonna get the weak shock correct ), let alone strong shock in your case.
The density-based rhoCentralFoam uses an explicit euler time stepping, so you will have to limit CFL to <0.2. I think you can use the laminar model, just set wall BC to slip instead.