Please also reference this matter in the Announcement at the top of this forum and check out the many recent threads here in the Premiere Elements Forum on the subject.
For now, set Windows Update to notify you for permission to Download & Install Windows Updates.
If you get a chance to see the problematic kb in the Windows Update list beforehand, right click it and select "Hide".
If that is not possible, find the kb (see Announcement) and deleted it and try to catch it for the "Hide" once you have set for notification Download & Install...
If any problems, please post back as to where you are running into problems following the input from the Announcement and already posted threads on this issue.