In the past, when GrapheneOS was in a better state, the latest kernel.org LTS branches were promptly merged along with additional fixes not included in the upstream branches. The fix for the bug now assigned CVE-2019-2215 was already applied for the Pixel 1 and 2.
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Does the phone or its the internal flash memory store any cached data and ? or if it does what will prevent a forensic company extracting my cached encrypted data?
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All data on persistent storage is encrypted. Data in user profiles is encrypted with a key derived from the unlock method for that profile. There's also hardware support for encryption reinforcing this. Of course, when you unlock and make data accessible, keys are in-memory.
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Nothing is stored / cached unencrypted on persistent storage though. That's not how it works. Moving towards finer-grained encryption and keeping more data at rest is ongoing work. Apps can use the keystore to keep data at rest when the screen is locked, after the initial unlock.

