I used this plugin for years and it worked well despite becoming unsupported long ago.
You could edit it to email a custom message (with some tweaking, I could send HTML), with a Management page that let you manually select users who wish to "opt-out" of the mailing list.
But it's quite old and can take a very long time to email every user unless you "Schedule" your latest post for later. And it would email everyone with every Update if you didn't disable it first.
But as of the latest (v4.2.2) update of WP, it does not appear to work anymore. :(
You must log in to submit a review. You can also log in or register using the form near the top of this page.