Software Update Utility (update.exe)
update.exe is the executable that coordinates software and Windows updates. It checks for new patches, downloads packages to a local cache, validates metadata, and launches installers (often msiexec) to apply updates. It runs with elevated privileges during maintenance windows and may spawn additional processes to complete installations.
In practice, update.exe authenticates updates, verifies digital signatures, downloads packages to a cache, and triggers installers. It can create child processes and temporarily raise I/O and CPU usage while updates are staged and applied, after which it completes and exits or re-schedules.
Reasons it's running: