You can apply for resubmitting. If you still fail to pass the external review, you need to postpone, modify the paper at most, and wait for the next submission.

Generally speaking, there is a second chance. If you haven't, you should ask your tutor to help you see if you haven't done enough. Ask your tutor to help you correct the shortcomings in your paper, and then submit it for the second external review. If you don't pass the second external examination, you may have to apply for an extension of graduation. This situation is troublesome, so it is suggested to improve the paper before the second submission.