In this situation, the most practical solution is to reduce the scope of the release to meet the deadline. Since one team member will be absent, causing a reduction in velocity, the team may not be able to complete all planned work in the time remaining. By reducing the scope, the team can focus on delivering the most critical features for the industry fair and ensure that the release is still valuable and on time. This aligns with Agile principles of prioritizing the most valuable work and delivering iteratively based on available capacity.