I think that’s just boilerplate language Microsoft assigns for any update in the Download Catalog that addresses any security issue. Here’s the Catalog entry for KB5027222 -
To get the details of any given update, we have to check the original KB article (either the KB link in the Download Catalog, or the link we provide from the Fixlet in the console)
I checked several older fixlets, and that exact same verbiage is on every monthly rollup for Windows Server 2019 going back at least as far as the June 2022 rollup package. I don’t think this means there’s anything particularly “bad” about last month’s rollup package.
A security issue has been identified in a Microsoft software product that could affect your system. You can help protect your system by installing this update from Microsoft. For a complete listing of the issues that are included in this update, see the associated Microsoft Knowledge Base article. After you install this update, you may have to restart your system.
The way I read these, is that the June 2023 Rollup Package resolved some security issues in Windows. The July 2023 Rollup Package also resolves some security issues in Windows. July 2023 corrects everything that the previous months’ packages correct, along with newly-discovered ones, and thus supersedes all earlier monthly rollups. That doesn’t specifically mean anything new or terrible was introduced in the June package, just that the July package does more.