OP wrote:
"It's an internal HDD paired with an external SSD over Thunderbolt."
Doing that WAS NOT a very good idea in the first place.
It may make data recovery impossible unless you can get the iMac booted and running again.
I don't see how it's going to be possible to get data from your erstwhile "fusion" drive by taking both drives and connecting them [externally] to another Mac. I could be wrong.
Your April 2020 backup may be "all that you're going to get".
I would NEVER attempt to do such a thing again.
Not ever.
And in the future, use either CarbonCopyCloner or SuperDuper for backups.
You might try the "baking" trick mentioned above.
Just wondering... can the iMac boot into "safe mode"?
(shift key held down at boot).
If you are able to get the iMac booted again, the first thing I'd do is get CCC or SD and create a bootable cloned backup on an external drive.
Then... test it to see if it can boot the iMac.
Then... split that internal/external fusion drive into "standalone" drives and run that way.
To continue to go the way you've been going is an invitation to "disk disaster"...