OK, so I have been messing around trying to get this to work.
This is what I have found ... This seems to be related somehow to KB3021952.
I remember back in the day that sometimes updates would get corrupted and to fix it you would have to delete the temp downloads. So I went and did a disk cleanup of system files. The hiding the update tips made me think of this. So after a cleanup, I now
had 3 updates, two went fine but KB3038314 failed. Reboot, disk cleanup (windows update cleanup), check for updates, 2 available KB3021952 and KB3038314. Install KB3021952, run update cleanup (which is always 20.5MB), check for updates and KB3021952 is back.
You can see in the screenshot below that the highlighted row is the first successful install of KB3021952. At first I thought it was KB3038314 patching KB3021952, but then after just installing 1952 then running cleanup, 1952 popped back up.
I have downloaded the standalone KB3038314 and tried several times, several different ways.

I think I found the issue, I looked further down the history and found this ... we have two KB3038314 updates, one for IE8 and one for IE11.
Cumulative Security Update for Internet Explorer 8 for Windows 7 for x64-based Systems (KB3038314)
Installation date: 4/18/2015 2:18 PM
Installation status: Successful
Update type: Important
A security issue has been identified in a Microsoft software product that could affect your system. You can help protect your system by installing this update from Microsoft. For a complete listing of the issues that are included in this update, see the
associated Microsoft Knowledge Base article. After you install this update, you may have to restart your system.
More information:
http://support.microsoft.com/kb/3038314
Help and Support:
http://support.microsoft.com
Compared to this ...
Cumulative Security Update for Internet Explorer 11 for Windows 7 for x64-based Systems (KB3038314)
Installation date: 4/18/2015 9:45 PM
Installation status: Failed
Error details: Code 80092004
Update type: Important
A security issue has been identified in a Microsoft software product that could affect your system. You can help protect your system by installing this update from Microsoft. For a complete listing of the issues that are included in this update, see the
associated Microsoft Knowledge Base article. After you install this update, you may have to restart your system.
More information:
http://support.microsoft.com/kb/3038314
Help and Support:
http://support.microsoft.com