I am puzzled by one thing.
If Malwarebytes is the culprit, why do I have no issue for several days and then it suddenly happens again?
It is not coinciding with a Malwarebytes scan and there is nothing in the logs.
That doesn't mean it isn't to do with Malwarebytes, but the connection is not clear.
BTW I also have Malwarebytes Premium...and on 2 PC's that I use Onedrive on frequently (all windows 7). One of them never(?) had an issue, the other one at the expected frequency.
I wonder if the issue has to do with the updater.exe prog. Could it be that whenever MS pushes an update, the problem occurs. At one point I tried to delete that from the onedrive directory...but it came back and I had the issue afterwards.
I have put the folder into the malwarebytes exclusions, continue to see the updater time stamp change, but have not experienced issues for the last 3 days or so...but that is not long enough to make a conclusion something "worked".