Apache httpd -- Path Traversal and Remote Code Execution

The Apache http server project reports:

critical: Path Traversal and Remote Code Execution in Apache HTTP
Server 2.4.49 and 2.4.50 (incomplete fix of CVE-2021-41773)
(CVE-2021-42013).
It was found that the fix for CVE-2021-41773 in Apache HTTP
Server 2.4.50 was insufficient. An attacker could use a path
traversal attack to map URLs to files outside the directories
configured by Alias-like directives.
If files outside of these directories are not protected by the
usual default configuration “require all denied”, these requests
can succeed. If CGI scripts are also enabled for these aliased
pathes, this could allow for remote code execution.
This issue only affects Apache 2.4.49 and Apache 2.4.50 and not
earlier versions.
Acknowledgements: Reported by Juan Escobar from Dreamlab
Technologies, Fernando Munoz from NULL Life CTF Team, and
Shungo Kumasaka