It's the 13 and 14k processors that are affected. From what I understand, the power was left uncapped so the processors basically "fry" themselves. Over time, more and more of the processor is destroyed so it will start having increasing malfunctions (usually by programs/games crashing/exiting). It took them a long time to acknowledge it, and BIOS updates to fix it are just now starting to come out (even though the issue has been known for many months now).
It's been especially bad with games based on Unreal 5, where the shader compilation crashes with a message saying "out of memory" but that isn't the case, it's the CPU outright drawing too much power during the process. Updating the bios (or manually changing several bios options to what they "should" be) is the only "fix", however, whatever damage is done up to that point on the CPU is permanent. Unless you do fix it, your processor is basically just ticking down until it breaks.
A major issue since I'd say updating the bios (simplest solution) is beyond the skill of 60+%? of actual users. Manually changing the individual settings 99+%? I thankfully fall into the group that can update my bios (though not comfortable enough to update each individual setting without just following a guide clicking where it says to click without really understanding what it does).
^ simplistic understanding of the issue. I'm sure some more tech savvy people have better explanations.