Many thanks to all those that confirmed I can delete the updates files and everyone else for your suggestions. I've deleted my updates folders and my install is now just shy of a much more reasonable 32 GB. I'm new to this game and so far have flown quick missions, but after a few harrowing moments caused by my HOTAS axis being assigned reverse mappings by default, all is flying smoothly now. About the only thing I need to do now is google up a better TrackIR profile, because the default is definitely lacking.
The requirements state 23 GB+, but I only own the Battle of Stalingrad and the install has consumed almost 50 GB of HD space! There's no way I can afford to give that much of my SSD to this game. Despite my only owning BoS, I noticed in my install folders that i have an "...updates\19-12-18\copies" subfolder that contains almost 18 GB of files. Many of of which are for addons I don't own like Moscow, Kuban, Rheinland and Spitfire. Is it possible to delete any of those files without impacting my BoS installation?