According to the Microsoft SUS blog, this update will fix:
This update lets servers that are running Windows Server Update Services (WSUS) 3.0 SP2 provide updates to computers that are running Windows 8 or Windows Server 2012.
This update fixes the following issues:
- Installation of update 2720211 may fail if Service Pack 2 was previously uninstalled and then reinstalled.
- After you install update 2720221, health monitoring may fail if the WSUS server is configured to use SSL.
Additionally, this update includes the following fixes:
- 2530678 System Center Update Publisher does not publish customized updates to a computer if WSUS 3.0 SP2 and the .NET Framework 4 are installed
- 2530709 "Metadata only" updates cannot be expired or revised in WSUS 3.0 SP2
- 2720211 An update for Windows Server Update Services 3.0 Service Pack 2 is available