Privileged Time is the percentage of elapsed time that the process threads spent executing code in privileged mode. When ...

% Privileged Time is the percentage of elapsed time that the process threads spent executing code in privileged mode.  When a Windows system service in called, the service will often run in privileged mode to gain access to system-private data. Such data is protected from access by threads executing in user mode. Calls to the system can be explicit or implicit, such as page faults or interrupts. Unlike some early operating systems, Windows uses process boundaries for subsystem protection in addition to the traditional protection of user and privileged modes. Some work done by Windows on behalf of the application might appear in other subsystem processes in addition to the privileged time in the process.