The fwctl driver implements a state machine which is executed when a bhyve guest accesses certain x86 I/O ports. The interface lets the guest copy a string into a buffer resident in the bhyve process' memory. A bug in the state machine implementation can result in a buffer overflowing when copying this string. Malicious, privileged software running in a guest VM can exploit the buffer overflow to achieve code execution on the host in the bhyve userspace process, which typically runs as root, mitigated by the capabilities assigned through the Capsicum sandbox available to the bhyve process.
The product copies an input buffer to an output buffer without verifying that the size of the input buffer is less than the size of the output buffer, leading to a buffer overflow.