An elevation of privilege vulnerability exists when the Windows kernel fails to properly handle objects in memory. An attacker who successfully exploited this vulnerability could run arbitrary code in kernel mode. An attacker could then install programs; view, change, or delete data; or create new accounts with full user rights. To exploit this vulnerability, an attacker would first have to log on to the system. An attacker could then run a specially crafted application to take control of an affected system. The update addresses the vulnerability by correcting how the Windows kernel handles objects in 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-2020-1566