This research article focuses on the design of a single-band microstrip modified patch rectangular antenna with inset-fed and different slots. The antenna is crafted using a 0.254 mm thick Rogers RT/Duroid 5880 substrate and is specifically optimized for the 47 GHz (V-band) frequency with an impressive return loss of −38.42 dB. The design process involves using HFSS and conducting an in-depth EM wave analysis. The antenna efficiently converts bounded energy into an EM wave, resulting in high efficiency and gain. The antenna has an efficiency of ~93%. Notably, its compact dimensions of 6*6.01*0.254 mm3 make it ideal for integration into compact 5G devices. This antenna boasts a real impedance of 50 Ω and an imaginary impedance of 0 Ω while offering a commendable gain of 1.24 dBi at 47 GHz. The article comprehensively details the design evolution of the antenna structure, encompassing advanced techniques that impact its return loss. Additionally, various parameters of the final structure are thoroughly analyzed, including VSWR, radiation plot, impedance, and parametric graph.