That process has nothing to do with Windows Update, or Microsoft Update, which is what I thought you were talking about. It concerns automatic updating for Office 2013 Click-to-Run. Your Registry Editor screenshot indicates that you're looking in:
HKEY_LOCAL_MACHINE\software\policies\Microsoft\Win dows
but you should be looking in:
HKEY_LOCAL_MACHINE\software\policies\Microsoft\Off ice
which isn't there. That situation would ordinarily only arise if you don't have Office installed. If Office is installed, I'd suggest repairing the Office installation (via Start > Windows Control Panel > Programs > Programs & Features > Microsoft Office (version) > Change). That should recreate the required registry entries.

__________________
Cheers,
Paul Edstein
[Fmr MS MVP - Word]