You can set the flash power in HSS. But most handheld light meters
can't measure the flash in HSS. Sekonic released the first one that can this year (L-858D).
Typically, what you do, is that you set the camera how you want (keeping at or below sync speed), throw the flash on at any old power setting, and take a meter reading. However the aperture reading on the meter defers from the actual aperture setting you want to use, you make that same adjustment on the flash's power.
So, for example, you're at f/8, but the meter is reading f/5.6. So you need to increase the flash's power setting by one stop (double what you have set). If you're at 1/4 power, you need to bump up to 1/2 power.
But with HSS, all bets are off. The meter probably can't measure it accurately. You could try and use sync speed and guesstimate, (so in the case of 1/160 vs. 1/200, you need to adjust by an additional 1/3EV), but HSS does eat more power to do all that blinking. How much depends on what gear combo you have.
This is why I like having TTL gear, and a Godox XPro-C trigger with the TCM function.
The XPro-O hasn't been announced yet, alas (both the Sony and Fuji versions are already listed for pre-order on Adorama. (sigh)).