You can request the review board to review the complaint.
However, I would ask them what screen caused the bug - I've heard of times when a tester tried to use PassBook on an iPad when that functionality only loads on an iPhone. By asking politely, you'll better understand what code to cut from this submission rather than have to do that blindly and resubmit. You could also resubmit that exact build to TestFlight and ask to have it approved so you can have coverage for that build of that device from your testing pool.
Without seeing the text of the rejection it's hard to know what or why you got the no. Absolutely, make a new build and submit that for review. Even if it takes a week or two due to the crush of new apps for Apple Watch - you can always then make an appeal if the rejection doesn't make more sense in 48 hours time once you've looked it over and/or reached out to other developers to get their opinion of the situation.
Personally, I would thank them for the rejection. Offer a fixed build to address their specific complaints and only revert to an appeal after 6 weeks of unsuccessful attempts to get the initial version passed.
You don't say if this app has ever been approved - so allowing several months for that is realistic if the app isn't clearly something that has had significant engineering put into it.
Also - I find putting the app into TestFlight for beta allows you to discover sooner what points Apple sees as problematic with your app without it being a "go live" or "die in a fire" scenario.
TL;DR - find any way to give the reviewer what they ask in all or in part and try to avoid taking it to the review board until you're sure there is no other option.