How to create an Exclude Rule

$CollectionName = "OSD Bare Metal"
$ExclusionCollectionName = "New Dev Col"
$ParentCollection = Get-WmiObject -Namespace 'ROOT\SMS\Site_PS1' -Class SMS_Collection -Filter "Name='$CollectionName'"
$SubCollection = Get-WmiObject -Namespace 'ROOT\SMS\Site_PS1' -Class SMS_Collection -Filter "Name='$ExclusionCollectionName'"
 
$VerifyDependency = Invoke-WmiMethod -Namespace 'ROOT\SMS\Site_PS1' -Class SMS_Collection -Name VerifyNoCircularDependencies -ArgumentList @($ParentCollection.__PATH,$SubCollection.__PATH,$null)
 
If($VerifyDependency){

    #Read Lazy properties
    $ParentCollection.Get()
    
    #Create new rule
    $NewRule = ([WMIClass]"\\Localhost\root\SMS\Site_PS1:SMS_CollectionRuleExcludeCollection").CreateInstance()
    $NewRule.ExcludeCollectionID = $SubCollection.CollectionID
    $NewRule.RuleName = $SubCollection.Name
    
    #Commit changes and initiate the collection evaluator                    
    $ParentCollection.CollectionRules += $NewRule.psobject.baseobject
    $ParentCollection.Put()
    $ParentCollection.RequestRefresh()
}