Have a look at the following Microsoft support article.
<a href=”http://support.microsoft.com/kb/958051″>You may receive a “0x8007F0F4″ error code when you try to install updates from the Windows Update Web site or from the Microsoft Update Web site</a>
There is also another possibility that I think was not mentioned in the above article, and it is related to the Distributed Transaction Coordinator (MSDTC) service. If it is disabled, you could get that error number also.
Have a look at <a href=”http://www.rolloverplaydead.com/2007/03/15/windows-2003-sp1-and-sp2-errors-with-windows-update-0x8007f0f4/”>this other article</a> for more information.
Hope this helps.