One of the key questions in modelling the formation and evolution of galaxies is the impact and relative importance of the stellar and AGN feedback. We study the effects of varied prescriptions of stellar wind and AGN feedback on the statistical properties of highly ionized absorbers using multiple cosmological simulations, implementing different feedback models. For each simulation, by considering a wide range of ultraviolet background (UVB), we show that the statistical properties of metal absorption lines in the simulated spectra are influenced by the UVB used. The difference in some of the predicted distributions between different simulations (with varied feedback) is similar to the one obtained by varying the UVB for a given simulation. Most of the observed properties of O VI absorbers are roughly matched by simulations incorporating WIND+AGN feedback when using the softer UVB. However, this simulation fails to produce observed distributions of C IV and the fraction of Lyα absorbers with detectable metals. We find that the redshift clustering can provide a good discriminator between the effects of feedback and UVB as they affect clustering amplitudes at different length scales. In the case of aligned absorbers, we find that the derived temperature correlates with the optical depth weighted temperature from the region contributing to the absorption, albeit with a significant scatter. We show that this scatter comes from the spread in the kinetic temperature of the gas contributing to the absorption and hence depends on the feedback processes and the ionizing UV background (UVB) used in the simulations. We show that the distribution of non-thermal broadening is also affected by both feedback processes and the ionizing UVB. Therefore, to constrain different feedback processes and/or UVBs, using observed properties of H i and metal ions, it is essential to perform a simultaneous analysis of various observable parameters.