Microsoft’s note indicates that you should only install the patch if the problem is affecting you. You’ll know if it hits your computer by the “unexpected results when printing from some apps or to some printers. Issues might include missing or solid color graphics, misalignment/formatting issues, or printing of blank pages/labels.”
The only other problem? Many people, including yours truly, have experienced issues trying to install the patch via Windows Update. If that includes you and you need the fix to make sure all your graphics are printing out in the right place, Bleeping Computer mentioned that you can download and manually install the patch here.