You don’t need to clear the cache unless you want to. Just because an update is downloaded to the offline cache does not mean that it will get applied.
If you want to delete cached files you can see where your cache folder is located by checking under ‘Tools > Settings > Windows Update > Local update cache directory’
In addition to using the exclude list you may also opt to hide the update on the target computers, which is explained in the section ‘Method 3’ here. Just note that once an update is hidden on a target, Microsoft is able to unhide it by republishing the update, which they do occasionally.
-Doug