You need to run a patch acquisition to download the patches from Microsoft. Before you get to that point, you need to have the following set up...
1. Creat a tablespace in a SQL Server or Oracle database. 2. Create an ODBC DSN on the Patch Manager server to communicate with the database. 3. Install Patch Manager and configure it to use the above DSN with an appropriate user name and password with 'full' permissions to the tablespace. 4. Configure Patch Manager to communicate with the Configuration Server that will serve as your 'Acquisition RCS'. 5. Run 'Synchronize' from the Patch Manager server (this will create the schema in your database). 6. Create an acquisition file and run it.
7. The server that Patch Manager is installed on, must have access to the internet in order to connect to the HP and Microsoft sites to download the patches. You may also have to configure Patch Manager to use an Internet Proxy server in order to gain appropriate external access.
The documentation that ships with Patch Manager pretty clearly explains how to perform an acquisition. Have you read it yet?