According to Wikipedia:
Exoneration occurs when the conviction for a crime is reversed, either through demonstration of innocence, a flaw in the conviction, or otherwise.
Milošević was never convicted, because he died before the trial was concluded. That means he certainly wasn't exonerated in the literal sense.
Rather, the Karadžić judgement states on page 1303:
With regard to the evidence presented in this case in relation to Slobodan Milošević and his
membership in the JCE [Joint Criminal Enterprise], the Chamber recalls that he shared and endorsed the political objective of
the Accused and the Bosnian Serb leadership to preserve Yugoslavia and to prevent the separation
or independence of BiH and co-operated closely with the Accused during this time. The Chamber
also recalls that Milošević provided assistance in the form of personnel, provisions, and arms to the
Bosnian Serbs during the conflict.11026 However, based on the evidence before the Chamber
regarding the diverging interests that emerged between the Bosnian Serb and Serbian leaderships
during the conflict and in particular, Milošević’s repeated criticism and disapproval of the policies
and decisions made by the Accused and the Bosnian Serb leadership,11027 the Chamber is not
satisfied that there was sufficient evidence presented in this case to find that Slobodan Milošević
agreed with the common plan.
And in footnote 11027 on the same page:
The Chamber notes that the relationship between Milošević and the Accused had deteriorated beginning in
1992; by 1994, they no longer agreed on a course of action to be taken. Furthermore, beginning as early as
March 1992, there was apparent discord between the Accused and Milošević in meetings with international
representatives, during which Milošević and other Serbian leaders openly criticised Bosnian Serb leaders of
committing “crimes against humanity” and “ethnic cleansing” and the war for their own purposes.
So it appears that the chamber states there is not sufficient evidence that Milošević agreed with Karadžić plans in Bosnia. However, it also states that Milošević at the same time provided assistance to the Bosnian Serbs. Therefore, other claims in the linked article, such as that Milošević was trying to stop those war crimes, are not supported by the provided evidence from the Karadžić judgement.