There is no downside to removing Windows Updates. Microsoft computers are so full of security holes that the phrase "Windows Security" is considered something of an oxymoron. If you're concerned about security you should have moved to a Linux or BSD desktop years ago.
Again -basic security- you should never keep files that are critical to the function of your personal finances or business on a Wndows computer. If you don't already have those functions administered by Linux or BSD servers then you need to make that switch ASAP.