Yep. I disabled it on mine just for totk before the last update and it has been fine. It does annoy me every time I open the game to do the update, but as long as you don’t agree it shouldn’t update.
Why wouldn't you be able to? If you have software auto-updates turned off, you can just manually begin updating No Man's Sky by selecting the game in the Home Menu, and this won't force any other game to update.