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While this only works to disable the update notification for a single day like in Method 1 , you can get ahead of notifications appearing by turning on Do Not Disturb , which will not only hide the update notification, but all of them in general.

Simply open the Notification Center from the top right of the menu bar , click on Notifications, then scroll up to enable Do Not Disturb. DND will turn off automatically the next day, so you'll have to manually turn it on again to disable notifications. Instead of enabling Do Not Disturb on a daily basis, you can automate the process by selecting a time to have it turn on everyday.