Hi,

The first thing is to make sure you are updating Studio 2014 SP2 and not 2014 SP1 or earlier.  These cumulative updates are very specific and the one in the KB you linked to only applies if the version of Studio you have installed is 2014 SP2.  

If you have the right version then I would try downloading the update again in case the problem is with the update file itself.

If you still can't resolve this then please contact the support team.  All users are entitled to installation and licensing assistance and I think this qualifies for installation.  

Go to the Knowledgebase;

http://kb.sdl.com

Then go to the tab called Solution Finder ( http://kb.sdl.com/?cid=23&tab=sf ) and now go here;

Download & Installation Problems
- I use SDL Trados Studio and/or SDL MultiTerm 2009, 2011 or 2014
-- I receive an error message during installation
--- I have disabled UAC during installation / I do not have Win Vista 7/8
---- None of the error messages match my issue / I tried the suggested resolution....

So if you have tried everything suggested, when you get to this point you'll be presented with a form to contact support. Complete all the fields in the form making sure your email address is entered correctly or nobody will be able to get back in touch with you.

Also use the Chrome browser to log the case if you have it; you'll get more success in completing the form.