Think of this less as a men-versus-women staffing question and more as a role-fit problem: certain employees, who happen to currently be some of the female staff, cannot take on travel-heavy, late-hour assignments, while the company still needs those assignments covered.
Instead, the sensible fix is to separate the who from the what: keep the equal male-female hiring policy exactly as it is, but rearrange which employees do which job. Employees, of any gender, who cannot travel or work late can be shifted into roles or locations that do not need this, while roles that do need travel and overtime can be filled by whoever, male or female, is able and willing to do them.
Let's summarize:
So Seema should see if the unwilling female employees can be given assignments that do not need travel and involve less overtime, which is option 1.