Microsoft Advertising has introduced Excluded content terms for Audience Ads, providing advertisers with more control over ad placements.
This feature allows users to prevent ads from displaying alongside specific page titles by adding unwanted terms at either the account or campaign level.

Advertisers can include up to 1,000 excluded terms, with campaign-level exclusions automatically applied across all campaigns in the account.
Advertisers can add exclusions through Tools > Content suitability > Excluded content terms.

Check the official announcement: Microsoft Advertising Adds Excluded Content Terms for Audience Ads.