PIctureBox to display images one after the other

my program is supposed to load a picture from a third party application, display it as it is in a PictureBox. Then modify the image through some image processing algorithm and display the resulting image in the same PictureBox. Then fetch another image from the external system, display it, process it, display the result and so on and so forth. All this should result in the user seeing the images one after with a few seconds delay between them.

Is it possible to do this in Windows Forms (the project is coded in C++/CRL)? If so, how can I do it?

the code I have done so far looks like this (Im only displaying the chunks of code that I believe are relevant to understand what I want to achieve):

private: Bitmap^ image1;

private: System::Void button1_Click(System::Object^  sender, System::EventArgs^  e) {

 //connecting to the third party application
 PImage PI;
 PI.EstablishConnection();  

 //setting image parameters
 PI.setImageParameters(x, y, z, yaw, pitch, roll); 


//retrieving image data 
int W = PI.returnCols(); 
 int H = PI.returnRows();

//updating Bitmap object as per image data		 
 image1 = gcnew Bitmap (W, H);

//....

//function to modify the display and load the new image in pictureBox
ModifyDisplay (image1->Height, image1->Width, image1, PI);
pictureBox1->Image = image1;

//...
//process current image using some algorithms

//modify current image as per the processing and display it
ModifyDisplay (image1->Height, image1->Width, image1, PI);
pictureBox1->Image = image1;

//...fetch a new image
//function to modify the display and load the second image in pictureBox
ModifyDisplay (image1->Height, image1->Width, image1, PI);
pictureBox1->Image = image1;


//...
//process second image using some algorithms

//...and so on
}