Possible, but at a cost. At least I couldn't find a better way (caveat: I might be a bit rusty).
Depending on this component type, one or two methods may work. Effects and limitation will be similar.
The page has to be split, or ended, at this component in question.
If the page waterfall always looks the same, you may define an end-of-page component pointing at some other content element right before this one. Then this component and everything afterwards will be ignored as orphaned hits (will be reported on the server level only for bytes and packets).
If this page component has content type that you may globally define as one of the content types that always instantiates a new page (think text/html) - such configuration would split the page that has this component inside and a new page will be tracked starting at the component in question. Now the URL exclusion rules will work. The side effect is that any component of this content type will split any page where it appears, so defining e.g. image/png this way would create a mess:-)