Want Python code for what Calculate Geonetry tool does for xy to meters

Hello

I have points with XY coordinates in GCS84 and need to convert them to meters before extracting raster cell values from the points. I know I can do this with the Calculate Geometry window from the drop-down menu off the field name in the attribute table, but I'd like to add this step into a longer python code after adding the new field.

Should be easy, right? The Calculate Geometry window asks for the following input (I've entered mine):
Property: Y Coordinate of Point
Coordinate System: Use coordinate system of the data frame (PCS:Polar Stereographic)
Units: Meters [m]

Thanks in advance for any ideas or help!
~Alice