It seems there have been still issues with out of memory errors with CONFIGMGR initiated scans even after applying KB3050265. The problem seems to be only related to 32-bit SCCM client systems.
Yesterday, Microsoft released a new fix for Windows Update Agent that should address this variation of out of memory errors. Please see https://support.microsoft.com/en-us/kb/3112343 for the full information.
System Center 2012 R2 Configuration Manager update scan is sometimes failing with this error hr=8007000E . Typically the scenario is that a ConfigMgr 2012 R2 client is requesting an update scan but the Windows Update Agent on 32-bit Windows 7 computers fails to return the scan results to Configuration Manager. This causes the Configuration Manager client to report incorrect compliance status as a result. It is further evident that the updates fail to install on the Windows 7 32-bit clients when ConfigMgr requests the update cycle, however if you use the Windows Update control panel applet the updates will usually install.
You will also notice a message similar to the following in WindowsUpdate.log:WARNING: ISusInternal::GetUpdateMetadata2 failed, hr=8007000E
At its core this is a memory allocation issue, thus 64-bit Windows 7 computers will not see this error because the address space is effectively unlimited. They will, however, exhibit high memory and high CPU usage, possibly affecting performance. Note that x86 clients will also exhibit high memory usage (around 1.2-1.4GB).
Issue is addressed in this BLog
Microsoft released Windows Update Agent fix under the following:
3050265, Windows Update Client for Windows 7: June 2015, http://support.microsoft.com/kb/3050265/EN-US