If performance penalty is your main objection, then you don't appear to need to prevent those updates from being installed: that part of Meltdown/Spectre protection measures that is believed to cause most of the penalty could later be turned off (or back on) with a registry key, ensuring you won't get a performance penalty if you're not affected:
To enable the fix
reg add "HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Memory Management" /v FeatureSettingsOverride /t REG_DWORD /d 0 /f
reg add "HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Memory Management" /v FeatureSettingsOverrideMask /t REG_DWORD /d 3 /f
Restart the computer for the changes to take effect.
To disable the fix
reg add "HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Memory Management" /v FeatureSettingsOverride /t REG_DWORD /d 3 /f
reg add "HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Memory Management" /v FeatureSettingsOverrideMask /t REG_DWORD /d 3 /f
Restart the computer for the changes to take effect.
(There is no need to change MinVmVersionForCpuBasedMitigations.)
- Note setting of 3 is accurate for both enable/disable settings due to masking.
Not only that, but as most of the penalty is caused by user-kernel transitions which now cost more due to the mitigations, it's worse for Linux and other operating systems based on monolithic kernels than for Windows. In certain Windows configurations performance impact is negligible, so if yours match those, you don't need to worry about that much.
That said, please note also that the performance impact is not the only issue with the Meltdown/Spectre patches for Windows. A few antivirus products are known to cause further problems, including Blue Screen errors and inability to boot.
Though skipping security updates is the ultimate measure (and you should only do that if you are hundred per cent sure you know what you're doing and are ready to face the consequences), it's best to first check with the official advisory of your antivirus vendor (and, probably, vendors of any other system-related software, should there be any on your installation) if it's already fine to use Spectre/Meltdown updates together with their products.
Note that at the end of the day it doesn't look like you'll be able to install any of the security updates in future without those Meltdown/Spectre patches being installed. This way, it's better not to skip but to manage.