Yes. Legitimate HP files do NOT belong in System32. Run a full antivirus scan immediately – this is a classic malware hiding spot.
The most common safe source of hpbq138.exe is HP (Hewlett-Packard) printers, scanners, and all-in-one devices. HP has a long history of using numbered executable files for background utilities, firmware updaters, and diagnostic tools.
The string hpbq138 often breaks down as: hpbq138.exe
When installed legitimately, this executable is typically located in:
C:\Program Files\HP\HP Software Update\
C:\Program Files (x86)\HP\Digital Imaging\bin\
C:\ProgramData\HP\Product Assistant\
What does it do when safe?
How to verify a safe installation:
Rarely, but possible. If you delete it and it returns after reboot, run Windows Defender Offline or Kaspersky Rescue Disk – these boot before rootkits activate. Reinstall HP software from official HP support site
BIOS updates are sensitive to power interruptions. Prepare your system to ensure a smooth update.