The purpose of the high takeback for a fairly large loop is to generate speed in dropping the racquet from a higher point.
A closed stance allows the racquet to travel a further distance before striking the ball, and you need this full distance to optimally finish the swing [full arm extension, swing from low to high].
While the swing is initially powered by an partial uncoiling of the hips/shoulders, stopping abruptly lets the arm pivot away from the body at the shoulder joint, so that shoulders and hips do not further uncoil until after contact.
Forget about the specific muscles involved - the key is going to be getting the body weight moving forward and to the side by pushing off the back foot and stepping into the ball with a closed stance.
This is what you are now missing, and explains how moving in on balls in the past led to that forward weight transfer that allowed you more power.
The contact point of a one hand backhand is considerably forward than that of a forehand or a 2HBH - and the stroke mechanics are different.
Therefore our brain/eyes have to develop a separate distance to the contact point to a 1HBH than for a forehand or 2HBH.
I really think this is one of the principle reasons many struggle with a 1HBH.
The initiation of their swing is too late on balls hit to them with any degree of pace.
To train the brain/eyes body I recommend hitting nothing but backhands for several days until the timing is down.
This can be started on a backboard.
Access to a ball machine is great as the next step, starting with easy to hit balls, and turning up the pace/topsin each time you fill the container. Methodically you can build up your stroke rather than the random speeds/spin from a casual hitting partner.
No kidding - today someone at the courts asked me how long it took me to master the 1HBH. I told them at least 3-4 lifetimes, because I certainly have not come close in this lifetime.