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Microsoft: Windows 'inetpub' folder created by security fix, don’t delete
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Ya, I'd bet on something similar. According to the CVE, the vulnerability is around "Improper link resolution before file access". My bet is that there is something hardcoded somewhere which assumes the existence of this folder. If it doesn't exist, this can let the attacker get something in place which then gets executed with SYSTEM permissions, leading to privilege escalation. Not the worst thing in the world, for most users. But, it would be a problem in an enterprise environment where part of the security model is users not having local admin.