The great GPA helps, so kudos to you on earning that! If you do not have the time to retake the exam, then it seems that the score is what it is. I wouldn't say that it's a dealbreaker, but it will create some drag in accordance with my previous note. Anecdotally, I would say that competitive deferred program applicants from "overrepresented pools" usually have above-average (for a given school) GMAT scores. (But no applicant is ideally situated across every profile category... you do your best with what you have!)
As far as positioning is concerned, considerations might include making sure resume and recommender(s) capture your quant / analytical chops -- though certainly not exclusively those -- and possibly doing some light explanation about the Quant score in your Optional Essays that highlights internships, project, and/or academic work that you believe better illustrate your quant / analytical acumen than the Q47.
You do not need to write a whole essay about -- a few specific sentences would suffice. The Q47 is really right on the border of whether I think addressing in the Optional is even necessary, but in context of everything, and given that you can likely point to some compelling proof elsewhere (at least academically, based on the information available to me in these posts), I would lean toward addressing it there so that you can acknowledge it and control some of the messaging / reinforce strong points around it.
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Greg