hpwuschd2.exe is usually associated with HP Product Assistant and it is required by the HP printer software updater agent. hpwuschd2 process is used by HP Update Scheduler and checks for updates to HP software online. Usually, hpwuschd2.exe is added as a start-up entry is started automatically from a Run, RunOnce, RunServices, RunServicesOnce entry in the Windows registry or the task scheduler. This process can also be managed from the MSCONFIG. Although this process hpwuschd2 is not required by the operating system to function, stopping this process might conflict with the printer driver update.
Non-system processes like hpwuschd2.exe originate from software you installed on your system. Since most applications store data on your hard disk and in your system's registry, it is likely that your computer has suffered fragmentation and accumulated invalid entries which can affect your PC's performance.

In Windows Task Manager, you can see what CPU, memory, disk and network utilization is causing the Hewlett Packard Software Update Scheduler process. To access the Task Manager, hold down the Ctrl + Shift + Esc keys at the same time. These three buttons are located on the far left of your keyboard.

This process is considered safe. It is unlikely to pose any harm to your system. The hpwuschd2.exe file should be located in the folder C:\Program Files\Hewlett-Packard\HP Software Update. Otherwise it could be a Trojan.

This process is not considered CPU intensive. However, running too many processes on your system may affect your PC’s performance. To reduce system overload, you can use the Microsoft System Configuration Utility (MSConfig) or the Windows Task Manager to manually find and disable processes that launch upon start-up.

Use the Windows Resource Monitor to find out which processes and applications write/read the most on the hard drive, send the most data to the Internet, or use the most memory. To access the Resource Monitor, press the key combination Windows key + R and then enter 'resmon'.