In these circumstances, effective and regular communication is essential. I would promptly organize a meeting with the engineering and product management teams to gain a comprehensive understanding of how the bug affects the overall quality and functionality of the release. After assessing the severity of the bug, I would work alongside the team to develop a recovery plan, which may require overtime or additional resources. It is vital to ensure that the product's quality remains intact, even under time constraints. At the same time, I would maintain open lines of communication with the General Manager and the key customer, keeping them informed about the issue, our proposed solutions, and updated timelines. Being honest and transparent would assist in managing their expectations and preserving their trust despite the challenge. If it becomes apparent that the bug cannot be resolved in time without jeopardizing the product's quality, I would suggest providing the customer with a beta version or a version that omits certain features from this release, clearly stating that this is a temporary fix until the complete release is ready.