One way, is to simply add a review frequency value like “No Review Needed” and assign that as the review frequency for these records. Then, when you go to run compliance on content records, you would simply filter out the records assigned this review frequency.

Another way is to assign a record status of “Archived” to those records. Then, assign the appropriate value for each record (manually) or sets of records (using the Global Attribute Changes feature). Then, when you go to run compliance on content records, you would simply filter out the “Archived” records before processing the records. Most customers use the existing “Publishing Rights” attribute for this purpose and include relevant values in the picklist, but you can use another unused picklist attribute. You can also restrict viewing of records based on this, if needed. Below is an example record status field and picklist values.