Yes, Azure Automation is the best way to perform all those tasks using Runbooks. Once an automation account is created you can perform the following
Update Management
- Updates received thru Log Analytics workspace
- Schedule updates for Windows/Linux VMs
Configuration Management
- Desired State Configuration
- Inventory
- Change Tracking
You can create runbooks using PowerShell or Python and schedule them outside of update management or configuration management. There are samples for example stop/start VM from the runbook gallery.
Reference:
Azure Automation: https://learn.microsoft.com/en-us/azure/automation/?WT.mc_id=AZ-MVP-5004665
Azure Update Management: https://learn.microsoft.com/en-us/azure/automation/update-management/overview?WT.mc_id=AZ-MVP-5004665
Patch Management: https://learn.microsoft.com/en-us/azure/virtual-machines/automatic-vm-guest-patching?WT.mc_id=AZ-MVP-5004665