You need ePO Agent in order to wake-up (enforce) policies for HIPS
Installation Path>\Common Framework\CmdAgent.exe /E
What I'm looking for is a command to trugger an update for HIPS on the client itself that I can trigger in a script.
For VSE I found MSUPDATE.exe but this doesn't update HIPS.
Is there something similar for HIPS or something to trigger an UPDATE NOW on the clienct via command.
HIPS does not perform any updating functionality (like the Update tasks included in VSE). The HIPS Content updates are performed by McAfee Agent Update tasks. I'm not aware of how to run a McAfee Agent "Update Now" task at command line, but that would be how it would be done.