The scheduleprocessor.exe has a "Network Service" security rights. Will there be any problem if we remove this permissions. I have been asked by our security team to remove this as its a risk for the environment. Please advise.
I would say yes, as the actual NS related scheduled tasks themselves run as SYSTEM.
As SYSTEM cannot access the network, having the actual process configured to use a network account will allow network related actions like PMImport actions to run.