Often, instabilities in Windows Explorer are attributable to faulty shell extensions and addons.
Consider using Sysinternals Autoruns or ShellExView. Disable non-Microsoft shell extensions and add-ons, and check the behavior. If it is gone, re-enable the disabled extensions/add-ons, one at a time, and see if you can identify which may be responsible.
Try a clean boot, or boot into safe mode. Does the behavior persist?
What is the complete stack of the thread, per Process Explorer, when the CPU consumption is present?