not sure what your requirements are but I would suggest to start from the Johnson–Mehl–Avrami–Kolmogorov theory. You will find much work on this for isothermal and non isothermal conditions. These equations are not based on a purely physically based theory but it could enough for you unless you need to carry out research on the field of metallurgy.
Generally, the researchers pay attention for the relation between the prior austenite grain size and cooling rates for achieving fine ferrite grain structures to enhance high-strength low alloy C-steel. The strip thickness significantly affects the cooling rate.
You can derive your own equation. Measure pearlite/ferrite size of the initial material, apply different heating rates/holding times/temperatures, and then measure the austenite grain size. To know how to calculate prior austenite grain size, refer to following work: Thesis Unravelling the role of carbon on strengthening mechanisms i...