It won't install the newest update anyway so I'm probably safe.
You could try running a server version of Windows instead, but you might find yourself unsupported in other ways (some hardware drivers, some software deliberately refusing to run or accidentally doing so due to using a broken compatibility check) in that case. The license will also cost a chunk more currency.
Looking again now, there seems to be no such option. I can defer updates for a fixed number of days (with separate settings for quality updates and feature updates), which might be useful if the defer is cancelled by a manual "check and install updates" rather than having to reset the setting to get them to install at a convenient time rather than waiting for them to go in at Windows' will at the end of the defer period.