As Adam mentioned, the proof of concept exploit script has been made public, and so waiting for PHP updates may be a bit too late.
Based on the scripts I've reviewed, adding the mitigating PHP directive is relatively simple in Enhance, go to Server > Application > PHP Settings > Add Directive button. I was able to deploy it per-server to protect all sites on each server:
session.upload_progress.enabled then choose BOOLEAN then choose Disabled
Click Save, and apply that to each App server.
Also, I'm adding a specific Cloudflare WAF block rule:
http.request.method eq "POST" AND http.request.body.raw contains "PHP_SESSION_UPLOAD_PROGRESS"
I saw Cloudflare's new emergency managed WAF rule was just released, but it's not yet clear if that is specific to this issue or not, and I'm not waiting around to find out.
More details for those interested: https://presswizards.com/critical-php-vulnerabilities-what-website-owners-need-to-know-and-do-now/