Microsoft SharePoint Server Remote Code Execution Vulnerability

There are multiple update packages available for some of the affected software. Do I need to install all the updates listed in the Security Updates table for the software?
Yes. Customers should apply all updates offered for the software installed on their systems. If multiple updates apply, they can be installed in any order.

According to the CVSS metric, privileges required is high (PR:H). What does that mean for this vulnerability?
An authenticated attacker with Site Owner permissions can use the vulnerability to inject arbitrary code and execute this code in the context of SharePoint Server.

How could an attacker exploit the vulnerability?
An authenticated attacker with Site Owner permissions or higher could upload a specially crafted file to the targeted SharePoint Server and craft specialized API requests to trigger deserialization of file's parameters. This would enable the attacker to perform remote code execution in the context of the SharePoint Server.

Is the Preview Pane an attack vector for this vulnerability?
No, the Preview Pane is not an attack vector.

Security updates
16.0.5483.1001 — https://support.microsoft.com/help/5002672
16.0.5483.1001 — https://support.microsoft.com/help/5002671
16.0.10416.20041 — https://support.microsoft.com/help/5002666
16.0.10416.20041 — https://support.microsoft.com/help/5002667
16.0.17928.20356 — https://support.microsoft.com/help/5002676