ASM is not creating vertex with exclude folders value in place.
WORKING CASE - When not putting any value for excludeFolder properties.
# Changing this property requires restarting the Monitored Process
asm.includeFolders=all_folders
# Changing this property requires restarting the Monitored Process
asm.excludeFolders=
NOT WORKING CASE - When putting value for excludeFolder properties.
# Changing this property requires restarting the Monitored Process
asm.includeFolders=
# Changing this property requires restarting the Monitored Process
asm.excludeFolders=PStage_1,PStage_2,TRM,TRMwebdriver,UnderDevelopment
Release : 23.2
A hotfix has been released to address this behavior, please contact Broadcom support through www.broadcom.com, refer to this knowledge article and ask for the hotfix.