Something worth noting: CPUs have no non-volatile memory -- microcode fully resets when the power is cycled. So, in a sensible world, the impact of this bug would be limited to people temporarily compromising systems on which they already had CPL0 (kernel) access. This would break (possibly very severely and maybe even unpatchably) SEV, and maybe it would break TPM-based security if it persisted across a soft reboot,…
That depends on how we define "independent" - AMD's firmware validation is carried out by the Platform Security Processor, which is an on-die ARM core that boots its firmware before the x86 cores come up. I don't know whether or not the microcode region of the firmware is included in the region verified by their Platform Secure Boot or not - skipping it on the basis that the CPU's going to verify it before loading it anyway seems like an "obvious" optimisation, but there's room to implement this in the way you want.
But raw write access to the flash depends on you being in SMM, and I don't know to what extent microcode can patch what SMM transitions look like. Wouldn't bet against it (and honestly would be kind of surprised if this was somehow protected), but I don't think what Google's worked out here yet gives us a solid answer.