A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data
I headed over the MySQL bug tracker and found this one: MySQL Bugs: #107316: MySQL 8.0.29 introduces a bug which prevents use of the Connector software
Based on that, and the hidden documentation to additionally install the ADO.NET connector, I've finally got this working with 64-bit Excel 365 by installing the 64-bit ODBC Connector, version 8.0.28, and the 32-bit ADO.NET connector, version 8.0.28.
Note that there is only a 32-bit ADO.NET connector available, as discussed above.