These system updates are provided by Centos and not by CWP. They are regular Linux security updates, and usually don't cause any problems.
Here is what I do when I get such a notification:
1. Wait at least one day, so updates causing major problems could be revoked/replaced
2. I run a copy of Centos 7 with CWP in Virtualbox in addition to my live server. This way I can install and test updates in there before I have to apply them to my main server. Sadly I can only use CentOS Web Panel free in Virtualbox because it's not reachable from the Internet.
3. After updating, I run the following command from a terminal:
needs-restarting -r
to check whether one of the updates requires a reboot. If necessary, I restart the system via Centos Web Panel.
4. I test all the services I normally use in the virtual machine.
5. Once I'm sure the updates have no negative side effect, I apply them also to my main server.
Btw, I have already tested and applied these new updates.