Hi,
If there is a later version installed on the device, we cannot install an earlier version by using ODT, so we need to uninstall the current version and start from the scratch.
However, in your case, you said that even you had configured to install an earlier version of Office, it still installed the latest version in the end, the reason may be that you did not turn off the automatic update, which
caused Office to be updated to the latest version immediately after installation.

I can understand that constantly uninstalling and reinstalling is troublesome, but even if you successfully install an earlier version, you may lose a lot of functional and security updates in the future.
As we discussed before, the root cause could be that the update of Excel made changes to some formulas which caused problems with some incompatible formulas used in your workbooks, because the "greyed out formulas" and
"blue border" things you were talking about are actually normal behaviors.
If you are tired of trying to roll back to the earlier version, I am still willing to do my best to help you solve the problem from the root, but we hope you can provide the screenshots of the problematic formulas and sample
data to better reproduce your situation, that would be helpful for us to narrow down the issue.
Your understanding and cooperation will be highly appreciated, and if you have any ideas, I am willing to continue to assist you.
Best Regards,
Arck