A lot of stores running Advantage+ shopping hit this exact question. Excluding past purchasers makes new-customer CPA look better, and that's the number most people report. But it can also starve the algorithm of the purchase signal it uses to find lookalikes.
Take a supplement brand where customers reorder every 30 days. If you exclude anyone who bought in the last 180 days, you either pay to re-find people who would have bought anyway, or you push them toward a competitor's ad.
My view is to leave them in prospecting and split new versus returning revenue in reporting, so the efficiency numbers don't hide what's actually happening. Has anyone found a split that holds up when the repeat rate is high?