First of all, netstat -ano will show you which ports/IP addresses your computer is connecting to, along with the process ID (PID) of the process which is doing it, eg:
TCP 10.16.69.103:49316 192.0.2.18:443 ESTABLISHED 6396
TCP 10.16.69.103:49318 192.0.2.18:443 ESTABLISHED 6396
TCP 10.16.69.103:49363 192.0.2.18:443 ESTABLISHED 6396
TCP 10.16.69.103:49398 192.0.2.18:443 ESTABLISHED 6396
TCP 10.16.69.103:49402 192.0.2.18:443 ESTABLISHED 6396
The last column is the PID (6396).
You can run tasklist /svc to find out which services are being run by which process, eg:
svchost.exe 828 Dhcp, Dnscache
svchost.exe 864 Alerter, LmHosts, W32Time
svchost.exe 880 AeLookupSvc, AudioSrv, BITS, Browser,
CryptSvc, dmserver, EventSystem, helpsvc,
lanmanserver, lanmanworkstation, Netman,
Nla, RasMan, Schedule, seclogon, SENS,
ShellHWDetection, TrkWks, winmgmt,
wuauserv, WZCSVC
OUTLOOK.EXE 6396 N/A
So, here we can see that the process opening connections to 192.0.2.18 is OUTLOOK.EXE.
If it had been an svchost.exe process, the services it is running would appear next to the PID. For example - we can see that svchost with PID 828 is running the DHCP Client (dhcp) and DNS Client (Dnscache) services.
If your svchost.exe process is not running a service, and is not running as a system account (eg NetworkService or LocalService), it is likely to be malware. Use Process Explorer to identify where this file is located on the disk.
If the problematic svchost instance is running several services, and you need to isolate which one is causing the problem, you can separate out the services to use their own individual svchost process. So, if your problematic svchost process was running Dhcp and Dnscache, you would run sc config dhcp type=own and sc config dnscache type=own, and then reboot and see which one was causing the traffic.
I'm just using Dhcp and Dnscache as examples, here.
If the instance of svchost which gives you the problem is moving around a lot, you might like to check the AppInit_DLLS registry key, in case a malicious DLL is being loaded by the process that way.