I use CentOS. I have ATI card that the website says supports RHEL 7.0 and 7.1. Currently it works in CentOS 7.2 as well but not in CentOS 7.3. Is it possible to use kernel of 7.2 (excluding from update via yum.conf) with other packages of 7.3? When I did that last time it did not work, the system did not boot so I am cautious about attempting to do that once again.
Unlike for most other packages upgrading RHEL and CentOS systems installs upgraded kernel packages as additional packages rather than upgrading and replacing the rpm's.
You don't need to exclude new kernel packages at all. Simply set the desired kernel version you want your system to boot into, rather than the default (i.e. newest) kernel version with
grubby --set-default /boot/vmlinuz-3.10.0-229.4.2.el7.x86_64