If you are lighter than PLTOM, you will have better than minimum required performance in the event of engine failure, which should support the "go" option.
Rejecting a takeoff for a single engine failure of any kind after V1 is a VERY big no-no. How do you even figure out it is "catastrophic failure" or just a simple flameout, which would allow a restart and a non-eventful AEO return to the departure airfield? Surely as PF or PM you don't start diagnosing the type of engine failure during rotation?
There are situations where you may/should/could reject after V1, but all of them sort of follow the Boeing song "unable or unsafe to fly". Is the flight with one engine inop unsafe after V1 - no. Is the aircraft unable to fly with one engine inop after V1 - with the light weight, not even close.