Personally, I consider this a valid vulnerability, but the risk is significantly reduced due to the lack of impact.
Some people will say it's not a vulnerability, but is a non-compliance with best practice.
Either way, most people would recommend this be fixed.
There is no universal consensus on the definition of "vulnerability" and for some people's definition you need a material impact, while for others it's sufficient to have a violation of expected behaviour that could potentially have a security impact.
There are a number of MS command line tools vulnerable to deserialization flaws. Historically, this was considered not a vulnerability as you couldn't cross a security boundary. However, more recently, these have resurfaced as techniques that red teamers (and potentially, malicious attackers) use to bypass EDR.