updatechecker.exe is a application which is probably legit. So, if updatechecker.exe is on your PC, it is probably ok, and will NOT cause problems. Even if your system is virus-free, we still advise you to use a well-known antivirus with a good track record, in order to defend yourself against potential security problems.
This application is normally stored in C:\Program Files (x86)\ASUS\ASUS Live Update\UpdateChecker.exe.
The MD5 fingerprint for this executable is eff8fff2d81a26919ec1d1fceededaad.
This application is NOT registered as a Windows service. This is good.
This program runs as a 32-bit program. It can not exploit the full set of features of nowadays' PC processors. This ordinarily happens because the publishers did not bother to upgrade it to 64-bit code.
The digital certificate is missing from this program. The maker did not bother to sign it. This is usually bad.
It has an uninstall routine, which is good. si are uninstall.