You can ignore the text that says that it is for network installations and also ignore the text advising Windows/Microsoft Update if only updating one PC.
Whether this will solve the 0x80244019 error is not certain. I know it will solve other errors but I have no specific knowledge of whether it will solve this error so please would you be kind enough to report back to us about this?
EDIT: Many people are now reporting that SP3 does solve Windows Update error 0x80244019
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