You're presenting to the CEO close to a product release and what you present mismatches their expectations, what do you do?

I would immediately acknowledge the discrepancy and ask for clarification on their specific expectations. My priority would be to understand the gap between what was presented and their vision. I'd then assess the feasibility of incorporating their feedback, considering the impact on the current release timeline and resources. If feasible, I'd propose a plan to address it, potentially through a fast-follow release or a hotfix, clearly communicating the trade-offs and revised timeline. If not immediately feasible, I would document their feedback for future iterations and explain the rationale for not incorporating it into the current release.