A vulnerability in Cisco Meraki Systems Manager (SM) Agent for Windows could allow an authenticated, local attacker to execute arbitrary code with elevated privileges. 

This vulnerability is due to incorrect handling of directory search paths at runtime. A low-privileged attacker could exploit this vulnerability by placing both malicious configuration files and malicious DLL files on an affected system, which would read and execute the files when Cisco Meraki SM launches on startup. A successful exploit could allow the attacker to execute arbitrary code on the affected system with SYSTEM privileges.