It's not really that tricky.

Printers have security settings, so it is just a matter of adding the user or group to the printers security context then explicitly denying them access. Everyone other than this user/group would continue to have access.

Alternatively remove access from everyone (don't deny it!) and grant access only to those users or groups who you want to have access to the printer.

No need to script or hack anything.

The only caveat is that the user may still be able to see the printer. They just won't be able to use it.

Update: Just tested - if you deny all categories to a user then the printer doesn't even appear in their list.