cavwp.exe Ramping system resources and freezing PC up to twice a day

Hello all,
I lurked the forums for a few days trying to find any previously posted solutions or discussions related to this issue i’m experiencing, but so far have found nothing. Figured I would post myself then and get the ball rolling one way or another.

The past two weeks or so I have experienced a rather annoying issue of one of the CIS processes ramping up and taking all available CPU time, to the point where the system is entirely unusable for an average of 10 minutes. (I can move the cursor and try to click on items but most will immediately become un-responsive. After 10 minutes my task manager will finally open and the process will still be taking 100% CPU for another 15 to 20 minutes.) This seems to happen with some regularity at 10 AM most days and again sometime in the evening.

I have managed to open up the CIS task manager a few times and only noted a task for virus definition updates once in about 20 instances.
Please see the attached screenshot for example.

System Specs:
Windows 7 64bit
Intel Core i5-3350P 3.1GHz, 16GB DDR3 Ram, C:\ is on a 6GB/s SSD.
CIS version:
Database: 22888

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