Same. I had to uninstall this mod to stop it. Also, the mod author says they don't read comments or bug reports on this page

Also my reboot loop was tied to the advanced flow management mod. I found this out because when I disabled this mod updater, I still got an endless reboot from adv flow management. Once I disabled the adv flow management mod, I could reenable this updater mod, and it worked normally

FWIW, it took a while for me to realize, the update dialogs, even when they have no "dismiss" or x-button, they can be dismissed by hitting "Esc" on the keyboard.

This allowed me to go into the mod menu and manipulate which mods were enabled.

reboot loops are caused by OneDrive breaking folder permission, causing the game to be unable to install an update.

disable onedrive for your documents folder and follow the Klei troubleshooting guide[support.klei.com] OneDrive section to restore fixed folder permissions

I have the same problem, had to uninstall some of my favorite mods that rely on this one. This mod causes the infinite loop and/or resets my mods multiple times when I install or activate it.