The issue was addressed with improved bounds checks. This issue is fixed in macOS Monterey 12.6, iOS 15.7 and iPadOS 15.7, iOS 16, macOS Big Sur 11.7. An application may be able to execute arbitrary code with kernel privileges. Apple is aware of a report that this issue may have been actively exploited..
https://www.tenable.com/cyber-exposure/tenable-2022-threat-landscape-report
https://support.apple.com/en-us/HT213443
https://support.apple.com/en-us/HT213446
https://support.apple.com/en-us/HT213445
https://support.apple.com/en-us/HT213444
http://seclists.org/fulldisclosure/2022/Oct/45
http://seclists.org/fulldisclosure/2022/Oct/43