If you have open registrations or otherwise users you don't 100% trust with the ability to create new repository (which is the default I think?), they could potentially exploit this and you probably wanna upgrade ASAP.
If you have only trusted users, or single user, seems it's fine. Of course, wanna upgrade anyway to not add escalation paths, but in the other situation it's graver.
What happened to sandboxing the offending git invocation?