neowin[.]net/news/crucial-bios-update-rolling-out-for-intel-11th-gen-10th-gen-and-more-cpus-fixes-lpe-bug/
Effecting most of their CPUs, with the exception of the new Alder Lake-S family, an exploit making use of one of the bugs would use it to increase the privilege level After they had already gained access. Windows requires administrative access or permissions to do some stuff for example, that the lower level user access or account will not allow. For more info on privilege escalation itself:
beyondtrust[.]com/blog/entry/privilege-escalation-attack-defense-explained
PC, laptop, & motherboard manufacturers will issue BIOS updates to fix the bugs, though how far back they'll go regarding older models will vary. Note: if a BIOS update becomes available for your device, be sure to follow the manufacturer's directions, and maybe search to find the experiences other users have reported beforehand -- a failed BIOS update can brick the device.