List all Custom Post Type posts excluding certain Taxnomy term

Sounds like you’re looking for the NOT IN value of the operator argument of a tax_query.

Depending on your situation, you should use either WP_Query or pre_get_posts.

Your tax_query would then look something like this:

'tax_query' => array(
    array(
        'taxonomy' => '{your taxonomy slug}',
        'field' => 'slug',
        'terms' => 'featured',
        'operator' => 'NOT IN'
    )
)

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