Since MemberwiseClone is protected, it can be used in derived classes (which uses Inherits in their declarations).
Probably it is not required. Check if this works:
Dim oc As New ObservableCollection(Of Person)(ocPeople.Except({CurrentPerson}))
It will create a new collection that does not include the CurrentPerson.
Maybe it is more suitable to just remove the person from the original collection:
ocPeople.Remove(CurrentPerson)
The person should disappear from ComboBox automatically.