I found a possible solution or workaround (possible because I did't understand it till the end, but it's working).
COM DLL will be registered on target PC, even if it is marked with "Do not register", in case if it is registered on deployment PC.
Solution:
- unregistered DLL from local (deployment) PC
- Remove it from installation package, save (and compile) package
- re-Add COM DLL to package, mark it with "Do not register", save and compile.
After these steps it works as expected - DLL is not registered on target PC.
It seems this is happening because of windows installer advertising (which still i didn't understand properly), but from WISE documentation I found:
"How Self-Registration Information is Captured
When you add a .DLL
or .OCX file containing COM self-registration information to an
installation, its registration information is scanned and the
appropriate registry keys are added to the installation. This system
of registration is more robust than letting the file self-register at
installation time because it does not depend on the presence of other
files on the destination computer or on how well the .OCX or .DLL file
adheres to self-registration conventions."
For this reason as additional measure, before above described steps, I changed WISE Advertising options:

For Advertising Setting: selected Do not scan advertising information option.
Unchecked option Automatically add self-registration.
All this written is actual solution, but thanks to @Christopher Painter response I was introduced in "DLL Hell" terminology, especially for COM DLLs, so that as LONG-TERM solution (in perspective) i would check for Registration-Free Activation of COM Components (link).