In this work, we derive optimal status update generation policies for a wireless source node that has a single queue which serves two applications, one that is Age of Information (AoI) sensitive and one that is not. Additionally, the AoI-sensitive application sets a strict upper bound on the AoI. The latter constraint is satisfied by utilizing an ultra-reliable low-latency communication link. We formulate a dynamic programming problem and utilize the framework of Markov Decision Processes to derive optimal policies for the generation of status update packets. We compare the derived optimal policies against baseline policies. Results indicate that existing status update policies fail to capture the effect of AoI insensitive traffic on queueing delay and AoI and thus perform suboptimally.