In terms of severity, the Media Framework component has a major vulnerability that might allow a remote attacker to execute arbitrary code in the context of a privileged process through a specially crafted file. Vulnerabilities that could be exploited, if mitigations for the platform and service are disabled for development reasons or if bypassed successfully, have severity ratings. However, there have been no instances of customers actively abusing or exploiting the newly discovered flaws. This is great news! More information about Android’s security platform protections and Google Play Protect’s mitigations may be found in the section titled “Android and Google Play Protect.”
The update is currently live all throughout the globe. You can upgrade your device by navigating to settings > software update. We highly recommend upgrading your Pixel to the current security patch. Source / Via