Hello Doug,
Applying an operating system update won't change any settings within Hauptwerk itself.
However, it might possibly do things that affect the computer's performance with Hauptwerk. For example, if you had made any tweaks to Windows to benefit audio/MIDI performance (such as disabling one or more Windows services) then a Windows update might undo those tweaks. Hence after applying an update you should check that your performance tweaks are still in place, and re-apply them if not.
Also, occasionally Windows updates contain code changes that cause performance problems on some PCs, or with some applications, but fortunately that's unusual.