Power Point is part of the MS Office series. You'll get security and program updates for all Office products that interface with PP or use the same data link libraries. The auto update process is pretty smart. I would apply any updates you get. One came through today, for me, that included a performance update for all Office products. That sounds like it might be a shared .dll file. Unless you can spend time researching each bulletin, just let the Office updates apply.
And +1 for IE. These may include security updates for Windows' interface not just IE.