1. One or more computer storage media devices having computer-executable instructions embodied thereon, that when executed by a computing system having a processor and memory, cause the computing system to perform a method for updating an application image with a code component, the method comprising: determining a code component is utilized by a service that is accessible through a distributed computing environment, wherein the service is an instantiation of an application within the distributed computing environment represented by an application image; receiving an indication that an update for the code component is available; identifying the application image is utilizing the code component; executing the application image in an isolated computing environment of the distributed computing environment to update the code component; employing an update agent to apply the update to the code component within the isolated computing environment; storing, within the distributed computing environment, a new application image reflecting the application having the code component updated; and receiving an indication to instantiate the application image instead of the new application image for a new instance of the application.