For that Catholic view of monasticism, I think you can once again read the rule of St. Benedict.
We all have the same vocation lay or monastic that is that we are to acquire the likeness of God that was lost during the Fall of Adam. This is attained through public participation in the life of the Church and privately through prayer, fasting, and almsgiving.
For a pure monastic interpretation from a cenobitic perspective lets look at a Saint and Monastic highly respected in Both The Orthodox and Catholic Church, Saint Benedict of Nursia. Here is what he has to say on this topic:
The Prologue to the Rule of Saint Benedict
Thank you so much for sharing this with me. It was very much what I was looking for. Thank you so much.
Would you agree that ascesis in the West seems to have largely died out since Vatican II? what I mean to say is that renunciation of the World doesn't seem to be the Catholic goal anymore.
I think it depends on where you look. There is a wonderful monastery out here in New Mexico called Christ in the Desert, where the monks live lives of great simplicity and their example has helped inspire many people to repentance and conversion. Are they living a life in which they renounce the world? Abosolutely!
Also, in Santa Fe, NM there is a cloister of Carmelite Nuns. They are of course cloisterd, and practice great self deprivation and penance. They are a shinning example of the renunciation of the world to which both religious and laymen are called.
Indeed, after the Second Vatican Council, the Church was assaulted by the modernist error, and while our teachings did not fall into heresy, often our practices became weaker. Yes some religious gave up their vocations. Some became more liberal. However, I see these people as a daying breed. Those orders that are part of the new revival or orthodoxy are the orders that are growing and bursting at the seem with vocations. One great exmaple of this growth is the mendicant order, The Franciscan Friars of the Renewal. They lives lives of great poverty, chastity, and Obedience. Their lives are lives of self denial and service to the poor. Never have I seen such joyful men; never have I seen such happy men. One of the men from this order, Fr. Robert, passed away last year and he was a very dear friend of mine. His passing brought me tears, but also joy to know that he was in Heaven. His holiness and rejection of worldy things was observed by all he came into contact with and his shinning example of love and holiness inspired many who knew him to repentance, penance, and love of God. This man, I honor as a true saint and the Russian Cross he gave me, I keep as relic. So is there self denial and holiness still in the religious orders of the Catholic Church? YES THERE IS!