This is a WordPress capability. If enabling it opens a vulnerability, it should be reported to WordPress.
Toolset Access does not alter it or change its behaviour, and I am sure that WordPress does not open a vulnerability when this is used.
It is - I completely agree - a big decision making someone able to promote users, however, it's exactly what the function does.
If a user cannot be trusted this role, it should not be given this role.
The role is intended to let users promote users, just as an admin, these users usually should be highly trusted cooperators on the site.
This might be addressed by other plugins so to avoid those roles to promote other (higher) user levels or degrade them, but as you know a user can not change his OWN role, so the fear that an editor can make himself admin is not related to this permission promote_users
You can always only change the roles of other users, not your own, even as an admin.
If you found a vulnerability, please report this to the right team here:
https://toolset.com/report-security-vulnerability-issues/
I do not agree that this is a vulnerability, because it is subject to the decisions made by the Webmaster, and it is not possible to auto-upgrade one's own role even if we have the promote_users capability, but only other roles.
If you want to suggest a feature that allows you to control what precise roles one can edit when he has the promote_users capability, the feature request suggestion should be made here:
https://toolset.com/home/contact-us/suggest-a-new-feature-for-toolset/
I apologise if I am not understanding properly, however, I see no vulnerability in this setting. It is a setting to decide well about, however, it's a native WordPress setting that does not compromise your website if given only to users you trust.
There are other ways to upgrade a user role if you wish this to be done by users you do not trust to, however, the question here is, if those untrusted users - having any sort of such ability on the site - is safe.
How would you imagine this to work in a safer condition?
I think it would require several more settings to tell the program, what exactly the user with such role should be able to update (for example, only roles below his role)
But this is not a vulnerability, it is a totally new feature added to the Plugin, which would require the communication to be opened here https://toolset.com/home/contact-us/suggest-a-new-feature-for-toolset/
Please feel free to use https://toolset.com/report-security-vulnerability-issues/ in case I do not understand the seriousness here well enough.