I think there's something not logical in your function:
let's assume everything else is working... this is how the while loop can look like

while(/<\?--([^-]*)-([^-]*)-->(.*?)<\/\?--([^-]*)-([^-]*)-->/sg){

  #   $a=$1;$b=$2;$c=$3;$d=$4;$e=$5;  # drop all those a b c d's

       next if ($1 eq $location && $2 eq $obj_name);
    
 $list .= "<?--$1-$2-->$3</?--$4-$5-->\n";
 
}
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