If we wanted to be very specific, soft metal bullets shouldnt do piercing damage, but tearing or streeching damage. And thats what kevlar good for, while kevlar relativelly sucks at cullting damage and really sucks at piercing damage (the soft kind of kevlar). Only true AP rounds with steel or similar penetrators would do piercing damage, and to stop them you would need hard plates of some kind.
Piercing being just other version of cutting is a big simplification too, some armors cant handle piercing well because of how material is shaped (chainmail, non-rigid kevlar). And right now we have damage reduction linked to material type, so you cant have chainmail beig excellent at stopping cutting, medicore at stopping piercing and doing nothing to stop blunt.
But all theese things might be a bit overcomplicated for needs of the game.