The next screen that follows, tap on My Contacts Except….
But you don't want to set the default notification sound to something too subtle, otherwise you'd miss messages that actually matter.
Here select Status Privacy.
Or maybe I used it incorrectly in the first place.
Just long press on the chat conversation you want to hide and tap on the Archive icon on the top right corner.
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By doing this, it can indicate the person who is sending you messages you don't like.
From the bottom right screen, tap on the Settings icon.