An elevation of privilege vulnerability exists when the Windows Backup Engine improperly handles memory. To exploit this vulnerability, an attacker would first have to gain execution on the victim system. An attacker could then run a specially crafted application to elevate privileges. The security update addresses the vulnerability by correcting how the Windows Backup Engine handles memory.
https://www.tenable.com/blog/microsoft-s-august-2020-patch-tuesday-addresses-120-cves-cve-2020-1337
https://portal.msrc.microsoft.com/en-US/security-guidance/advisory/CVE-2020-1541