Start here. This is the direct spoken answer to practice first.
Why this question matters
A post-release 500 spike requires fast user protection without losing compatibility and failure evidence. Rollback safety depends on migrations, data changes, configuration, and external contracts, not only on the previous artifact being available.
I would confirm the endpoint, error rate, user impact, and exact release time. Then I would compare the failed requests against the previous baseline and inspect logs/traces for the exception category. If the release clearly caused user impact and rollback is safe, I would rollback or disable the feature while preserving evidence.