It sounds like you don't have the latest update (16.89 or 16.90) of Office installed.
INSTALL UPDATES:
How to check your version of Office:
If you can open your Office application go to the application menu. For example, in Microsoft Word, go to the Word menu. Then choose About Word. The resulting dialog tells you which version you have.
If you can’t open your Office application, in Finder, go to the Applications folder. Right-click on the application and choose Get Info from the menu.
If your version of Office is currently 14.anything or lower, your software will not run in Mac OS Catalina, Big Sur, Monterey, Ventura, Sonoma or Sequoia. You might consider using LibreOfficeto replace Microsoft Office. LibreOfficeis a free, somewhat compatible desktop suite. Microsoft has a free, on-line version of Microsoft Office at OneDrive.com, which is also a good substitute for users of older versions of Mac OS if you don’t mind the hassle of having to use the web. If your needs are light-duty, try Apple’s Office applications: Numbers, Pages, Keynote and Apple Mail.
If your version of Office is currently 15.anything or 16.anythiing, follow these instructions to install Microsoft Office updates:
Download a copy of the current version of AutoUpdate from this link, install and then run AutoUpdate to bring your installation to current update level, then restart your Mac. If the updater does not open automatically after download, double-click the downloaded .pkg file. Click this link to download the updater. The update is free.
https://go.microsoft.com/fwlink/p/?linkid=830196