I waited for almost 1 hr. Then I took an educated guess (and risk).
My guess was, if something bad was about to happen with my Desktop, there might be a way to reach a Windows OS Recovery Point via basic OS boot-terminal, but I would have to research how to do that.
The other thought I had was, perhaps the updated actually DID finish, but the Avast UI was not made aware of the fact, and a reboot would simply just work.
Fortunately, in my case, I performed the "Restart Anyway" and I saw the Windows Splash screen, and was able to perform the typical User Login.
I then did the following:
(right-click Avast Premium Security Icon on toolbar):
Open Avast User Interface->Menu->Settings->Update
Then I saw:
Avast Premium Security is up to date
So my bold move paid off in my case, but I was very scared to do what I did.
So for anyone else, not sure this is the best answer, but for me it did work.