exclude-terms-from-editor.php

$taxonomy_name = 'venue';

//Only include venues from the current year in REST API responses
add_filter( "rest_" . $taxonomy_name . "_collection_params", 'hide_old_venues', 10, 2 );

function hide_old_venues( $prepared_args, $request ) {

	//Populate the default value of the include argument to only include terms with specific IDs in the meta box
	$prepared_args['include']['default'] = get_terms( array(
		'taxonomy'   => $taxonomy_name,
		'fields'     => 'ids',
		'hide_empty' => false,
		'meta_query' => array(
			array(
				'key' => 'venue_event_year',
				'value' => date( 'Y' ),
			),
		),
	) );
	return $prepared_args;
}