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An application is operating on an Amazon EC2 instance equipped with an IAM role that has permissions to access a customer-managed AWS KMS key and an Amazon S3 bucket storing 2 TB of sensitive data. A security vulnerability has been detected on the EC2 instance, which could potentially lead to the exposure of the sensitive data. However, due to critical operational constraints, the instance cannot be immediately taken offline for vulnerability patching. What is the quickest approach to mitigate the risk of sensitive data exposure?