Question about code in the drwrap_after_callee_func()

Hello! I found out some strange code and I have a question about it:
```
static void
drwrap_after_callee_func(void *drcontext, per_thread_t *pt, dr_mcontext_t *mc,
int level, app_pc retaddr,
bool unwind, bool only_requested_unwind)
{
wrap_entry_t *wrap, *next;
uint idx;
drwrap_context_t wrapcxt;
drvector_t toflush = {0,};
bool do_flush = false;
bool unwound_all = true;
app_pc pc = pt->last_wrap_func[level]; // <<<<<<<<<<<
ASSERT(pc != NULL, "drwrap_after_callee: pc is NULL!"); // <<<<<<<<<<<
ASSERT(pt != NULL, "drwrap_after_callee: pt is NULL!");
ASSERT(!only_requested_unwind || unwind, "only_requested_unwind implies unwind");

NOTIFY(2, "%s: level %d function "PFX"%s\n", __FUNCTION__, level, pc,
unwind ? " abnormal" : "");

drwrap_context_init(drcontext, &wrapcxt, pc, mc, DRWRAP_WHERE_POST_FUNC, retaddr); // <<<<<<<<<<<

if (level >= MAX_WRAP_NESTING) {
if (level == pt->wrap_level)
pt->wrap_level--;
return; /* we skipped the wrap */ // <<<<<<<<<<<
}
...
```
As you see there is possible out of bound access on `app_pc pc = pt->last_wrap_func[level];` initialization if `level >= MAX_WRAP_NESTING`. After `app_pc pc` can be != NULL therefore ASSERT will not trigger and `wrapcxt` would be with this value.
Level is checked only after this initializing code. Is this situation possible and has some impact on further code?