Before I get started, let me welcome you to the site.
First and foremost your timing is way too early, you start your push away on your first step, which is fine if you take 4 steps, you take 5 steps, so you are at least a step to a step and a half early. Hold the ball still until you start moving your left foot on your second step. At this point you push the ball slightly up then on the third step you drop it into the swing and let the ball swing.
Second I doubt that you can let the ball swing without squeezing the snot out of it since it looks to me like you are trying to catch it as you are starting your swing. This is a sign that your ball doesn't fit your hand properly.
To check to see if your ball fits you properly, start with checking your span. To check to see if your span is right place your thumb in the ball and lay your fingers across the holes. The edge of the finger holes that faces the thumb hole should be 1/2 way between the first and second knuckle of each finger respectively without stretching your hand, it should be relaxed.
If your span is right, then check to see if you are knuckling the thumb. Put your fingers in the ball then as you put your thumb in the ball, if you see the thumb bending at the knuckle as it goes in the hole then you need to have your thumb hole plugged and made smaller so it fits your thumb tighter and possibly have the pitch moved forward some, and keep the beveling of the top of the hole to a minimum.
Let me know how your ball fits compared to the way I described and let me know, you may have to take several trips to the Pro Shop
to get your fit right, so be patient. Even if you do get the ball to fit your hand right then it may still take some more trips to the shop once your hand learns to relax.
It is the most important aspect in Bowling Fundamentals
, so don't sleep on getting the ball to fit your hand properly.
Post another video once you get your ball fit and your timing fixed and we will go from there.