Select-Object with ExcludeProperty is good for removing a property from a collection of objects.
For removing a property from a single object this method might be more effective:
# new object with properties Test and Foo
$obj = New-Object -TypeName PSObject -Property @{ Test = 1; Foo = 2 }
# remove a property from PSObject.Properties
$obj.PSObject.Properties.Remove('Foo')