Do you have any plugins? If you have Scriptrunner, I think it would be possible to write a script validator that would check the status of the parent and, it it's in the Rejected status, return an error.
If you have JSU, you could use the Linked Status validator, although that might be a little cumbersome, since you'd have to specify all of the statuses that the parent could be in, and just not include Rejected in that list.
You don't need Scriptrunner or apps to do this.
Edit the workflow, find the Rejected status and edit it, adding a workflow property of jira.permission.create.denied to it.
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