Thanks David, the reason that I purchased Office 20021, is because Microsoft is intent on ending the provision of any future version of Office. I am not sure how it is going to work. Microsoft no longer sells Office 2019. You need to be very careful purchasing Office online, particularly those at knockdown prices. Try a bit of Googling re end of Microsoft Office. Not everything is correct so... See: Microsoft Office is changing to Microsoft 365 and Frequently asked Questions

Microsoft's articles can be very misleading and contradictory. Probably the worst misleading and contradictory information provided by Microsoft is the fact that in articles it referred to the Key to redeem Office as the Product Key and at the same time referred to the licence key also as the Product Key. The two keys have two different functions. Microsoft has now removed the licence Product Key from Office 2019 and 2021, which has helped to deal with some of the confusion, but how can you rely on Microsoft articles.
Microsoft at the present time is changing articles referring to Microsoft Office 2013/2016/2019/2021 to only refer to Microsoft 365 (other than where at the top of the article it refers to perpetual versions, that the article was originally aimed at.
Re: Install and use different versions of Office on the same PC - Microsoft Support "If you have a Microsoft 365 subscription or non-subscription version such as Office Home and Business 2021, 2019, 2016 or 2013, in most cases you can't run these versions together on the same computer." That means you cannot run Microsoft 365 with the perpetual versions of Office, it does not mean you cannot install perpetual versions side by side. Certainly you cannot run two versions of Outlook. Yes, you should install the earlier version first, that make absolute sense. I have never suggested that running two versions of Office at the same time.
It may be where you see or where other people get mixed up, is that on new computers it is very advisable to uninstall the trial version of Microsoft 365, which is installed on all new computers. It tries to install itself, so yes you should uninstall it before you do anything else, unless of course you want to try Microsoft 365. What Microsoft does not make clear is that if you do not cancel the subscription well before the 30 day trial period Microsoft will take a payment without any notice on expiry of the subscription. This forum is full of people who have suffered from this mistake.
I am not sure what is meant by "Word configuration files because the uninstall would delete them."? Have look at Rohn's contribution here: Word 2016 - User file and customization file locations - Microsoft Community As far as I am aware installing a newer version of Office will not delete anything. However, such things such as Office Styles will not be carried over.
You should backup your outlook pst files and your word files as a matter of course. Yes the main pst file has everything, that is calendar etc. See: Back up your email - Microsoft Support However, the newer version of Office 2019/2021 will pick them up and they should be working.