I wanted to rip my hair out so bad trying to figure this out a long time ago, but I found the answer a few minutes ago!
There is actually nothing wrong with your cron.php. When you create the cronjob in cPanel, the command has to be:
So replace 'function' with whatever function you are trying to run in cron.php and it should work.
EDIT: Also apparently using math right there with UPDATE will not work.
See here for a fix