You found it only because you asked avast to scan for PUPs, you have to exercise care when you do this as there are likely to be tools on your system that can be used for good or evil and this is one such tool. When you have it scan for PUPs expect to have to know what things are that are on your system so you can decide if it is legit and used for good or evil (usually by the location and or if you installed it).
In the HP\bin\ location it is legit as that is part of the HP toolset if you use the HP restore function I believe (I don't use HP).
I would suggest you stick to the default scans and their settings and don't get creative if you aren't sure what the impact might be.
