If I understood your direction correctly, then this will do what you asked for. Place this code in any module. See the attached which contains a working example. Have a nice day! :)
Option Explicit
'assumes headers are in row one
Sub YourMacro()
Dim MatchThis As Range, FoundThis As Range, DidNotFindThis As Range
Dim LastRowDataSheet1 As Long, LastRowDataSheet2 As Long
Dim Sheet1SearchRange As Range, Sheet2SearchRange As Range
On Error GoTo Err_YourMacro
Application.EnableEvents = False
Application.ScreenUpdating = False
LastRowDataSheet1 = Sheets("Sheet1").Columns(5).Cells(Rows.Count).End(xlUp).Row
LastRowDataSheet2 = Sheets("Sheet2").Columns(1).Cells(Rows.Count).End(xlUp).Row
Set Sheet1SearchRange = Sheets("Sheet1").Range("E2:E" & LastRowDataSheet1)
Set Sheet2SearchRange = Sheets("Sheet2").Range("A2:A" & LastRowDataSheet2)
For Each MatchThis In Sheet1SearchRange
With Sheet2SearchRange
.AutoFilter 1, MatchThis
For Each FoundThis In .Parent.AutoFilter.Range.SpecialCells(xlCellTypeVisible)
If FoundThis = MatchThis Then
FoundThis.Offset(, 1) = "Updated"
With MatchThis.EntireRow
.Cells(58) = "Disabled"
.Cells(65) = "DISCONTINUED"
.Cells(68) = 0
.Cells(78) = 0
End With
End If
Next
End With
Next MatchThis
Sheet2SearchRange.AutoFilter
Set Sheet2SearchRange = Sheet2SearchRange.Offset(, 1)
For Each DidNotFindThis In Sheet2SearchRange
If DidNotFindThis <> "Updated" Then DidNotFindThis = "Not Updated"
Next
Application.ScreenUpdating = True
Application.EnableEvents = True
Exit Sub
Err_YourMacro:
Application.ScreenUpdating = True
Application.EnableEvents = True
MsgBox Err.Description
End Sub