The impact of this issue announcement is low-medium. Please act accordingly to rectify the issue, as stated below.
Security Updates for Windows 10, Windows Server.
What you need to know:
Microsoft has discovered flaws residing in the Windows Codecs Library, an easy attack vector to social engineer victims into running malicious media files downloaded from the Internet. Codecs is a collection of support libraries that help the Windows operating system to play, compress and decompress various audio and video file extensions.
Actions to be taken:
Affected customers will be automatically updated by Microsoft Store. Customers do not need to take any action to receive the update.
What is the impact of not doing the actions?
Alternatively, customers who want to receive the update immediately can check for updates with the Microsoft Store App; more information on this process can be found here.