Hi Kenny,
Welcome to BuddyDev forums.

Please use the following code

add_filter( 'bp_after_has_members_parse_args', 'buddydev_exclude_users_by_member_type' );
 
function buddydev_exclude_users_by_member_type( $args ) {
    //do not exclude in admin
    if ( is_admin() && ! defined( 'DOING_AJAX' ) ) {
        return $args;
    }
    
    $excluded_member_type = isset( $args['member_type__not_in'] )? $args['member_type__not_in'] : array();
 
    if ( ! is_array( $excluded_member_type ) ) {
        $excluded_member_type = explode(',', $excluded_member_type );
    }
    
	//member types to exclude, change it
	$types_to_exclude = array( 'student', 'teacher' );//add your own list
    
    $excluded_member_type = array_merge( $excluded_member_type, $types_to_exclude );
    
    $args['member_type__not_in'] = $excluded_member_type;
    
    return $args;
}

You can specify one or more member type by their unique name in $types_to_exclude array.

Please let me know if that works or not?

Thank you
Brajesh