Upon logging into Magento admin, I see the following dialog. When the link shown in it is followed, there is no mention of the security patches.
This is the notification from the Magento Side. Patches are very important for your site it increase your performance and secures your site. A Magento security patch is a software release. It provides the newest updates for Magento to fix security issues. The patch file helps in fixing major bugs.
Updates can prevent security issues and improve compatibility and program features. Software updates are necessary to keep computers, mobile devices, and tablets running smoothly -- and they may lower security vulnerabilities. Data breaches, hacks, cyber-attacks and identity theft have all been in the news
This is the link to Adobe Commerce from here you will get all patches and see how can we apply the patches.
If you need more help please let me know.
Yes, Its means Adobe has released security updates for Adobe Commerce and Magento Open Source. These updates resolve a vulnerability rated critical. Successful exploitation could lead to arbitrary code execution.
I suggest to apply patches to your site. It's akways better to apply available patches or stay on latest version.