In Splunk Enterprise for Windows versions below 9.3.1, 9.2.3, and 9.1.6, a low-privileged user that does not hold the "admin" or "power" Splunk roles could write a file to the Windows system root directory, which has a default location in the Windows System32 folder, when Splunk Enterprise for Windows is installed on a separate drive.
https://www.securityweek.com/splunk-enterprise-update-patches-remote-code-execution-vulnerabilities/
https://research.splunk.com/application/c97e0704-d9c6-454d-89ba-1510a987bf72/