Privacy settings already affect the userlist so if the user doesn't have access to that users profile via profile privacy or they search a field that is private for example then that user won't be displayed. Regardless yes it's possible to filter a userlist by privacy setting using a subquery in the Advanced Filter usage.
The private value for profile privacy is 99. So the below should exclude all users with profile privacy set to 99.
Code:
( ( SELECT COUNT(*) FROM `#__comprofiler_plugin_privacy` AS p WHERE p.`type` = 'profile' AND ( p.`subtype` = '' OR p.`subtype` IS NULL ) AND p.`user_id` = u.`id` AND `rule` = 99 ) = 0 )
The below should only display users if profile privacy is set to public.
Code:
( ( SELECT COUNT(*) FROM `#__comprofiler_plugin_privacy` AS p WHERE p.`type` = 'profile' AND ( p.`subtype` = '' OR p.`subtype` IS NULL ) AND p.`user_id` = u.`id` AND `rule` = 0 ) > 0 )