We will need to use 2 contextual filters. Id and Has taxonomy term id.
Configure Id filter as following:
- Provide default value: Content ID from URL
- Under More tab - Check next to Exclude
Configure Has taxonomy term id as following:
- Provide default value: Taxonomy term ID from URL
- Uncheck: Load default filter from term page
- Check next to: Load default filter from node page, that's good for related taxonomy block
- Multiple value handling: Filter to items that share any value
- Check next to Reduce Duplicates
- Under more tab check: Allow multiple values and Allow multiple values to work together.