And yes, the possibility exists, and requires a modification of the local registry.
These are the steps to follow:

• Open the Registry Editor (search for regedit in the Start Menu and run it)
• Set DisableOSUpgrade to 1 in HKLMSOFTWAREPoliciesMicrosoftWindowsWindowsUpdate
• Set ReservationsAllowed to 0 in HKLMSoftwareMicrosoftWindowsCurrentVersionWindowsUpdateOSUpgrade

Funny how the title does not really mention what is really done in the official documentation to this from Microsoft: here.

Funny how the title does not really mention what is really done.

Update: Note that it showed Microsoft is now re-installing the updates, through modifying these settings over time. That's why SpybotAntiBeacon has added the possibility to be started at every boot - to reset Microsoft changes !