If you choose to block svchost.exe in this way, you may end up blocking your internet connection as well, since svchost.exe is used to obtain and maintain your connectivity through DNS and DHCP.
What you want CAN be done, though. You will want to create two rules in Application Monitor for svchost.exe, parent of services.exe.
The first rule will be:
Application: svchost.exe (browse to location)
Parent: services.exe (browse to location)
Action: Allow
Protocol: TCP/UDP
Direction In/Out
Destination IP: the microsoft site, IP range, or hostname you want to allow
Destination Port: Any
The 2nd rule will be:
App: svchost.exe
Parent: services.exe
Action: Block
Protocol: TCP/UDP
Direction: In/Out
Destination IP: Exception(not the following): The same info as for the above rule
Destination Port: Any
You may also want to go to Security/Advanced/Miscellenous, and uncheck the box “Do not show alerts for applicatiosn certified by Comodo.” This will make sure that you receive popups for anything that svchost (or any other application on the Safelist). Be aware,though, that this will greatly increase the number of alerts you receive.