Valve announced a replacement feature for both Family Sharing and Family View. Currently in beta.
Features:
- up to 5 members
- game sharing
- parental controls
- allow access to appropriate games
- restrict access to the Steam Store, Community or Friends Chat
- set playtime limits (hourly/daily)
- view playtime reports
- approve or deny requests from child accounts for additional playtime or feature access (temporary or permanent)
- recover a child’s account if they lost their password
- child purchase requests
You can mark a game as private and it won’t show to the other family members. I verified this just now after signing up for the beta and setting up an account for my spouse. The games I marked private don’t show up on their families library.