The meeting has been held, the motion was put and voted on and was approved. That is the resolution, you can’t “rescind” it in that way.
If the other owner wants to reverse it, they will have to call a general meeting with a proposed resolution to reverse the previous one. On the basis of the information provided, that resolution won’t get up, because there is no majority. That is what happens when you have one vote for and one against.
Perhaps you need to ask the owner what they hope to achieve, as they should pay the cost of any attempt to reverse the resolution. In any event, if they continue to attempt to block your renovation, the next step is NCAT, where assuming you are not doing anything outrageous, the OC will be told you can go ahead.
So I would start on your renovations now.