You will need to roll your own multi-threaded loop; if you stop either Update or Draw , then the other will also stall. Another consideration is that if your window is somehow obscured (in an environment without DWM, such as window overlapping), stopping Draw will leave areas of your window unpainted.
If you want to continue this; what you do is run a Thread first time you call Update and then use ManualResetEvent to synchronize the two.
A more reliable option is to turn the entire scene into RenderTarget2D when updating the scene; if the scene has not been changed since the last call to Update or Draw simply displays RenderTarget2D instead of the entire scene. This is still an endless loop, but it tends to your requirement (even if it doesn't match it).
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