I have been having this same problem with ProductUpdater for several months. It was running as a Kernal process and eating up 99.7% of CPU usage, causing the machine to run hot. My initial solution was to delete it with Activity Monitor. That solved the problem temporarily. It would then reappear a couple of days later.
Apple level 1 support thought that it was probably cause by McAfee, which Apple does not recommend. I called McAfee support. They didn't think that it was their software (Total Protection). Since I am running McAfee Total Protection on two other Macs, and not having this problem, I thought that they were probably correct. I ran Total Protection Scans and it did not find any malware.
With the help of Apple Level 2 support, I think that I have finally solved the problem. The support person recommended a malware protection product called Malwarebytes. You can download this product on a trial basis. I did this and ran a scan, which took less than a minute. It found a malware program (not found by McAfee) which it categorized as a "Firefox Profile" and quarantined it. I then deleted the quarantine file. That seems to have solved the problem. Unfortunately I neglected to record the name of the malware program. It doesn't have "ProductUpdater" in the name.
That was 3 days ago. So far no problems with ProductUpdater being loaded. Based on this I purchased a subscription to Malwarebytes.