If, like me, you are not a regular professional user of ArcGIS, then
the simplest, one-off way of doing this is to open the Attribute
Table and simply delete the lines (contour levels) you do not want.
By clicking at the top of the Elevation column in the Attribute Table,
the data are sorted by elevation, so the selection of the lines to
delete is easy.
Its crude (I'm sure profi's will wince at the idea) - but quick.
But make a back-up (copy) of the original file with all the contours first