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The 5d transition metal oxides stand at the crossroad of strongly correlated systems where the SOC and the coulomb interaction compete at the same energy scale. In 5d Iridates this is further enhanced by the crystal field interaction that splits the t_2g orbital and leaves the system in a low spin state (j_eff=1/2). Among the iridates pyrochlore Iridates A₂Ir₂O₇ (A=Y, Bi, and rare earth elements) have attracted much scientific attention as they potentially show various exotic phenomena and topologically non-trivial ground states. The SOC dominant Dzyaloshinskii-Moriya interaction competes with the inherent geometric spin-frustration giving rise to a non-co-linear  “all-in or all-out” (AIAO) antiferromagnetically ordered ground state with broken time-reversal symmetry. The delicate relation between metal-insulator transition (MIT) and AIAO magnetic ordering in the 5d-pyrochlore iridates has provided a fated goal to search for the fingerprints of exotic states of matter in these geometrically frustrated systems. Here we use Raman spectroscopy to investigate the temperature dependence of phonons and magnetic as well as electronic background in (Sm_1-xBi_x)₂Ir₂O₇ samples. While both Bi₂Ir₂O₇  and Sm₂Ir₂O₇ stabilize in pyrochlore structure: the former is a correlated metal, and the latter is a Weyl Semi-metal (WSM) candidate with concomitant MIT near ~120 K. A strong spin-phonon coupling, and magnetic-order induced phonon renormalization is observed near magnetic transition temperature T_N  for samples with x≤0.035. Phonon anomalies at a scaling temperature much lower than T_N are observed (for x≤0.02) and are possibly correlated with a crossover to the WSM state. An underlying broad scattering continuum attributed to pronounced spin-spin correlation is observed below T_N for pure Sm₂Ir₂O₇. We observe signatures of quadratic band touching (QBT) in x=0.05 and 0.10 samples in terms of a broad electronic continuum at low temperatures corroborating the inferences from transport measurements.