cut out vs excise

cut out is not a noun while excise is a noun.

Word	Noun	Adjective	Verb	Adverb
cut out	No	Yes	Yes	No
excise	Yes	No	Yes	No

As verbs, excise is a hyponym of cut out; that is, excise is a word with a more specific, narrower meaning than cut out:

cut out (noun)	excise (noun)
	a tax that is measured by the amount of business done (not on property or income from real estate)

cut out (adjective)	excise (adjective)
having been cut out

cut out (verb)	excise (verb)
delete or remove	remove by cutting
cease operating	remove by erasing or crossing out or as if by drawing a line
intercept (a player)	levy an excise tax on
strike or cancel by or as if by rubbing or crossing out
form and create by cutting out
cut off and stop