The first thing that came to mind is load balancers used with heavy tools. Generally these are devices seen on production lines so should be rather rugged. I'm not sure though that they can respond well to a fast moving CNC axis.
The second thing is to use a pneumatic balance. The long stroke on your Y implies a long cylinder but you may be able to address that with pulleys and a belt. Set up right a pneumatic system can prevent a rapid fall if power is cut to the machine. This does imply an air compressor set up to supply make up air and a few other pneumatic components. With the right engineering I've sen such counter balances run for decades.
Another possibility is simply a large servo with a brake. You still have gravities impact but the brake would add safety. Your CNC controller though needs to implement such functionality which is an issue with low end solutions.