If it's a Sage, contact their customer support about the issue. There is a problem at that spot or the epoxy coating would not be separating there. The issue may be minor now but it will lead to major problems later on. Sage quality is very good and should not have that kind of issue.
I would first see if Sage would repair the problem area, or find someone to remove the wrapping, put a very light coat of the thinest viscosity Super Glue along that spot, .. lightly buff any raised glue down to the ferrels originat surface, then rewrap and epoxy the ferrel.
Removing the old epoxy and wrapping, then Super Gluing, buffing, rewrapping, and adding the epoxy coating is not a major project. You may be able to do a good job of that project yourself.
Get it fixed!

If you didn't have a stinger hook on the buzzbait, there's a very good chance you may have caught the bass that blew up on your bait with one installed. As mentioned by others, tossing a Senko, tube bait, or other soft plastic bait, works very often. I've also had success following up with a popper or stick bait (walking the dog)

Best of luck