The Product Owner is usually responsible for conducting the prioritization process of bugs throughout the sprint. However, he must involve other team members to gain details before he can decide which bugs should be addressed first.
One common way to do it is to conduct the "Three Amigos" meetings, which involve the Product Owner, a developer and a tester who get together to review the bug. As part of this meeting, each of the participants have the chance to share their own unique point of view on the bug. For example:
How it affects current testing and coding activities.
How it will affect the current sprint.
The risk involved in fixing it
The risks to the business
How it affects the efforts to meet the acceptance test, acceptance criteria or the Definition of Done.
Although the meeting name suggests that there are only three participants, the meeting should never be limited to only those three. In fact, the meeting should include all other team members that can share an additional layer of information such as security architects and other tech leads that have experience to share as key contributors.