It's a part of the o/s & looks in the registry to see what services need loading up when the machine boots up. It can run several times concurrently, so no I wouldn't knee jerk to reinstall winders in a hurry.
However, there is a virus with the same name about & you can tell if it's that by checking the location of svchost.exe. It should be in C
Windows\System32. If you find it anywhere else, it could be a virus. Run your avg.
