A race condition was addressed with improved locking. This issue is fixed in macOS Big Sur 11.2, Security Update 2021-001 Catalina, Security Update 2021-001 Mojave, watchOS 7.3, tvOS 14.4, iOS 14.4 and iPadOS 14.4. A malicious application may be able to elevate privileges. Apple is aware of a report that this issue may have been actively exploited..
https://www.tenable.com/cyber-exposure/2021-threat-landscape-retrospective
https://support.apple.com/en-us/HT212149
https://support.apple.com/en-us/HT212148