Windows – Creating An “Elevated Shortcut” Allowing UAC To Be Bypassed For Certain Trusted Applications

This is by design. The checkbox negates the need to right-click and select "Run as administrator" every time.

Windows requires authentication for any task that requires administrator privilages. By what you suggest, nothing would prevent malware searching your computer for "Run as administrator" icons, running them, then using the application to access the depths of your file system. If the program ever displays so much as a file dialog, immediately the malware could modify files in restricted areas of the system.

You can create a task in the Windows Task Scheduler where you run the procexp.exe command and make sure to check the "Run with highest privileges" on the general tab to run it in admin mode. On the trigger tab you should define the task to run "At log on".

This will run the command with admin privileges at startup without asking for UAC verification.

To make sure Process Explorer starts minimized to the tray you should use the /t command line switch as an argument for the command when you add it to the action tab of the scheduled task.