Using Sandboxie to Isolate an "update manager" -- need to understand what's possible

I've been playing a video game for several years, but, starting in May, they're going to require the use of their "update manager" in order to continue playing.   This "update manager"  reportedly does a very deep system scan, sending back all sorts of information about your system and what else is installed on it, to the publisher.  

With Sandboxie, would it be possible to only allow this thing access to the game's specific folder tree, and nothing else on the system -- so that it can update the game, but not do any of the sketchy crap it's reported to do?  

Thanks.