https://www.microsoft.com/en-us/privacystatement/default.aspx
Some parts more scary than others.
Especially when taken out of context.
Which is what lawyers love doing.
Especially government ones.
Much of the problem is that their eulas etc all include cloud services along with local software. For cloud services much of that stuff is understandable, but definitely is not when its local software. The other part of the problem is that the parts that should be local software are still not local.
If you do install it, be sure to disable everything. And then google to find all the other 'options' that you missed...
And yes, the windows update thing allows them to install adware or whatever the hell they want later - they'll probably wait a year, at least...
Personally I'm gonna wait a while. the d3d12 renderer can wait.