Pavlo’s approach
The good news is that it's P1 not P0 😁 Since the feature is critical we can't ship it with bugs. Since there is a way to identify who will be affected by the bug, I would propose to do partial release for other 92% of users. If partial release isn't possible, then I would work with team to get all the details about the issue, including accuracy of the estimate. Then I would communicate the information to the stakeholders proposing to delay the release by 1-2 days.