@Joe Doe , you want both your conditions to be true so you need to use a Rule, like this:
<ImageLoad onmatch="include">
<Rule name="Abnormal DLLs" groupRelation="and">
<ImageLoaded condition="not begin with">C:\Windows\System32\</ImageLoaded>
<ImageLoaded condition="not begin with">C:\Windows\SysWOW64\</ImageLoaded>
</Rule>
</ImageLoad>
Otherwise, all events will match either one of your conditions with the end result that all images/DLLs are loaded.