Solution by Event Log Doctor

This seems to be a common problem where WSUS attempts to install an update that is already installed.

Try the following to "hide" this update so that it's not attempted to be installed again:

1. Stop the Automatic Updates service:

Start > Run > (type in) services.msc > [OK]
Double-click Automatic Updates > Click on Stop (Stopping the service will take a moment).

2. Delete the contents of the Download folder:

Start > Run > (type in) %windir%\SoftwareDistribution > [OK]
Open the Download folder and delete its contents.

Close the window.

3. Go to Windows Update website & scan for updates (Custom) > Uncheck 932471
and "hide" it ("Don't show me this update again").

4. Start the Automatic Updates service:

Start > Run > (type in) services.msc > [OK]
Double-click Automatic Updates > Click on Start (Starting the service will take a moment)