Rather than updating the PSModulePath variable on all your machines, a possible alternative is to use a full path to the module in the Import-Module command of whatever scripts are using it. I haven’t tried using a UNC path in this situation, but it’s worth a shot.
Import-Module '\\server\share\folder\PSWindowsUpdate'
From a performance perspective, it might be even better to have your script copy down the module to the local machine, then import the local copy into your PowerShell session:
if ((Test-Path -Path "$home\Documents\WindowsPowerShell\Modules") -eq $false) { $null = New-Item -ItemType Directory -Path "$home\Documents\WindowsPowerShell\Modules" } robocopy '\\server\share\folder\PSWindowsUpdate' "$home\Documents\WindowsPowerShell\Modules\PSWindowsUpdate" /MIR /DST Import-Module PSWindowsUpdate