The short answer is, yes, it could be. The chances are slim considering the length of contact time, but, if there was genital to genital contact, it's possible. Do you have insurance? There is truly only one way to know for sure. You must get the bump biopsied. A visual inspection is what many doctors or dermatologists do, but a biopsy is the only real way. If you can, biopsy it and know for sure.
If it was a brief touch, I doubt it. If there was any rubbing or grinding, it's possible.
It could also be a sebaceous gland, a skin tag, or a host of other things.
I agree that getting a biopsy is the way to go here.