The engineering of desired magnetoelectronic properties in artificially created $3d/4d$-based perovskite heterostructures via interfacial exchange coupling and octahedral distortions is an effective strategy for developing high-performance spintronic devices. In this study, we have demonstrated the manipulation of magnetic anisotropy and metal-insulator transition (MIT) in the $4d$-based ferromagnetic metal $\mathrm{SrRu}{\mathrm{O}}_3$ (SRO) by interfacing it with a $3d$-based antiferromagnetic (AFM) orthoferrite $\mathrm{LaFe}{\mathrm{O}}_3$ (LFO). The temperature- and field-dependent magnetization data reveal a systematic enhancement of magnetic anisotropy by increasing the thickness of the AFM LFO layer. Using the Stoner-Wohlfarth model, we have highlighted the pivotal role of interfacial exchange interaction in the development of magnetic anisotropy in the heterostructures. More importantly, magnetotransport measurements reveal a low-temperature upturn in resistivity that can be systematically tuned by varying the thickness of the LFO layer, emphasizing the crucial role of interfacial coupling governed by quantum interference and strong electron-electron interactions (EEIs). By evaluating the quantum correction to the sheet conductance in the two-dimensional limit, it is found that spin-orbit interaction (SOI) dominantly contributes to negative magnetoconductance in the weak field regime via the weak antilocalization effect. We emphasize that the observed MIT might be caused by a change in the oxygen octahedral rotation pattern leading to an alteration of the local hybridization. These results in a $3d/4d$ heterostructure feature the importance of the interfacial buffer layer and open a feasible route to tune the magnetic anisotropy and MIT via interfacial exchange coupling, SOI, and EEI.

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• Ferromagnetism
• Magnetic anisotropy
• Magnetotransport
• Weak antilocalization
• Weak localization