Open LIVEUPDATE File
LIVEUPDATE is not an extension as such, rather it is the name of a component file of the IObit LiveUpdate software owned by IObit Pty, Ltd.
The LIVEUPDATE file, as it is, a software component, has the EXE extension, since it is an executable file.
Therefore, the full name of the file is LIVEUPDATE.EXE.
The EXE extension in the file name is actually an abbreviation for executable.
More about IObit
IObit is a set of applications designed to improve the performance of operating systems, in this case, Microsoft Windows.
One of its flagship applications is Advanced SystemCare Pro, which is a remarkable tweaking utility that skillfully improves PC performance.
The IObit application is similar in utility to AVG TuneUp and Iolo System Mechanic, however, in terms of costs, IObit is always below the aforementioned.
The LIVEUPDATE.EXE file is a subapplication that is responsible for executing all the actions related to software updates.
Since it is an executable file, as a recommendation, launch executable programs only from trusted sources, as executable files can change settings on your computer or damage it.
You must be careful not to confuse LIVEUPDATE with a virus or Trojan file.