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VirusScan updates at least once per day and the other components periodically so that arrow signifies an update is in progress.
You can't control when it does it time-wise, but you can have McAfee notify you first before it happens.
Double-click the taskbar "M" icon to open Security Center
Click Advanced Menu (bottom left)
Click Configure (left)
With Security Center highlighted at top left click Advanced in the right-hand panel
Click Update Options (left)
Change the settings accordingly. Don't turn them off, however, if you don't want pop-up warnings to bug you constantly.
I've attached a thumbnail view of my settings. Click to enlarge.
Capture.JPG 74.2 K