The flaw is tracked as CVE-2023-40477 and could give remote attackers arbitrary code execution on the target system after a specially crafted RAR file is opened.
RARLAB released WinRAR version 6.23 on August 2nd, 2023, effectively addressing CVE-2023-40477.
Yes, many people in an office environment. Just habit like the Total Commander :|
Back in the time, it offered much better compression ratio than popular (Win)Zip. And it has SFX feature.