An elevation of privilege vulnerability exists in the way that Microsoft Office Click-to-Run (C2R) components handle objects in memory. An attacker who successfully exploited the vulnerability could elevate privileges. The attacker would need to already have the ability to execute code on the system. An attacker could exploit this vulnerability by running a specially crafted application on the victim system. The security update addresses the vulnerability by correcting how Microsoft Office Click-to-Run (C2R) components handle 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-2020-1581