This is like Windows svchost in that it "hosts" or loads McAfee binaries into a single process running under the SYSTEM user so that privileged operations can be performed on the OS like firewall protection, spam protection, network monitoring, etc.
You can control individual service modules through the Windows Service Control Manager (SCM) (run services.msc). You could attempt to disable various McAfee services until you find the one that is causing the problem for you. If you do find out more information, please post back. You could also post back with more information on your configuration (OS, McAfee software version, hardware platform, network configuration, connected PCs/devices, etc.) so we can help you further.