FTR, I think WD is great and I run it on all my systems. Frankly, I see no reason for 3rd party scanners, except MBAM (regardless of primary scanner of choice) just to make sure I (the user is always the weakest link) or my primary scanner (WD) did not let anything slip by. And since running MSE (W7's version of WD) on W7, and WD on W8 and W10, MBAM has never found anything but a couple false positive PUPs.
By default, Windows Updates checks for new updates every 22 hours ± a couple hours. This 22, give or take a couple, apparently ensures an even distribution of hits on MS servers.
WD checks for updates 15 minutes before each scheduled "Quick" scan and the default scan is every 24 hours at about 2am. In Group Policy you change the scan frequency to run quick scans. The default is 0 which means it will run at 2am, then again the next day at 2am. You can change it to any whole number from 1 to 24. Setting it to 1 will cause it scan every hour, starting at 2am. And since it checks for updates 15 minutes before scanning, it will check for updates every hour too. I'm fine with once a day. If I suspect something, I can always manually check for something new. I might consider changing it to every 6 hours for 4/day but more than that seems like overkill - unless I had a bunch of "it can never happen to me" teenagers in my house.