I have a 2010 MacBook Air, and it was running 10.12.6, with a 256GB SSD, of which 100 GB was free. With this update, upon restarting, it proceeded to boot until the progress line showed 100% complete and it just stayed there, never finishing the start up.
After trying Safe Boot (worked but still would not boot), booting into Recovery and checking the disk with Disk Utility (it was ok), resetting PRAM and NVRAM (still did not boot), and reinstalling the OS from the Recovery disk (still would not boot), I decided to completely erase the drive and do a clean install, feeling that this was safe since I had two recent backups, one from Time Machine, the other a bootable "clone" made from Super Duper. Before erasing the internal drive, I wanted to verify that the computer could boot up from SOMETHING normal, besides Recovery. It successfully booted from the external clone. That convinced me that the internal circuitry was likely ok, but the internal drive was the reason for the no-boot. I booted into Recovery, erased the SSD, reinstalled a fresh clean OS 10.12.6, installed nothing else, and created just one user called Admin. Then I applied all available updates, including the problematic 2017-001 update, which succeeded. With the computer then booting fine, I ran Migration Assistant to migrate from the Time Machine backup all user accounts and applications, but no other settings, my theory (based on some online research) that an incompatible kext or setting in the old installation could be the cause of the earlier no-boot. Everything migrated fine, the computer appeared IDENTICAL to what it was before except for three things: drivers for our printers/scanners needed to be re-installed; I had to reconnect to the WiFi network; and I had to remind Dropbox of my name and password. Everything else worked just as before, including Mail, Microsoft Office, Adobe Lightroom, Photoshop etc.
If you have a (preferably two) reliable backup(s), this is a brute force solution but unless you have broken internal hardware or your backup is not reliable, I think it has a high probability of succeeding. The erase + clean install took about 30 minutes, and the migration from Time Machine took about two hours.