Me and another guy replaced that external dependency with our own complete implementation, created over a two-week marathon coding session. It worked great, met all the acceptance criteria, and we shipped it. My VP was quite pleased, as it was a big win for the company.
This precipitated one of the ugliest and most out-in-the-open political battles I have ever witnessed in a large company. When the dust settled, we were allowed to use our own implementation, begrudingingly, but no one else was. I did not stick around long enough to know if the other VP ever actually managed to ship anything. It was quite the farce.