You tempo is way too slow. After stepping back, your center of gravity starts moving forward as you step forward to rotate into knee lift. But then it stalls out as your knee lift peaks and starts to drop. Keep your hips moving toward the target and get them going faster.
Also, your glove arm flies open. Keep it out front until foot plant before letting the glove elbow drop and the glove turn over. Then bring your chest to the glove. This will become easier to do as your tempo increases because it won't feel like you're having to hold the glove out front so long.
These adjustments will let you create more energy to put into the ball and it will improve your timing to let you rotate late. That will help maximize your velocity. It should also lengthen your stride and move your release point closer to home plate which will further reduce batter reaction time.