QuickBooks update error 12007 generally shows up due to QuickBooks update time out. There can be other reasons also such as if the software doesn't get access to the server thus this error shows up when QuickBooks can't connect to the internet. Usually, a firewall, antivirus, or browser may be causing an issue and not letting QB connect to the internet. It mostly comes when users try to download QuickBook updates or payroll.
https://opencloudmanifesto.org/quickbooks-update-error-12007/