The issue is back again in Win11 here and it seems to affect only HP laptops. Here the detailed reason for this:
Even if you go to the official Intel update page at https://www.intel.com/content/www/us/en/support/intel-driver-support-assistant.html then Intel recommends installing the "Intel Connectivity Performance Suite" in version "3.1023.830.1" and this seems to be OK, because the PDF to that package says, that the requirements are a 12Gen i7 and an Intel WiFi 6E AX211 network adapter as it is in the HP Zbooks.
But when the Intel installer for that package starts, it is doing a couple of compatibility checks and sees, that the PNPID of the WiFi-adapter is an HP-variant with ID "PCI\VEN_8086&DEV_51F0&SUBSYS_00948086&REV_01" and this subsys-info tells the installer to stop (and forces a rollback of any changes so far).
And the exact same thing happens in the Windows Update package named "Intel Corporation - SoftwareComponent - 2.1123.706.4". Requirements-check (forwarded from Intel to MS) reports this as a missing update, but the own Intel installer stops the install-process. You can see this in the "Application" eventlog with event-ID 16 from source "Intel Connectivity CInstall". In the XML-view of that event-details you see the text "Platform Invalid - Uninstalling".
So in sum this means you can only ignore this update package and ignore the reboot. As an admin you might blacklist this update package with some commands (offtopic here). For everyone else you need to wait, till Intel and HP have a better understanding, WHO is responsable for customizing this type of Intel-Installers for HP-specific Wifi-cards. Either Intel needs to blacklist them in their detection reoutines or HP needs to customize the installer to accept their own hardware.
BTW - this is an ongoing issue since years. I have have seen this multiple times in the past and the process (or the communucation) between Intel, MS and HP is still not as good as it should be.
Personally I think its on Intels side to have the same requirements-check in the initial hardware-scan as in the driver-installer itself.