Microsoft Office 2019 Professional Plus - Microsoft office cannot verify the license for this product...

Question

Hello!

With the latest updates - 20 March 2023 - I cannot use my Microsoft Office 2019 Professional Plus anymore, as I get an error stating "Microsoft Office cannot verify the license for this product. ..." despite the app stating clearly that my product is activated.

What I tried: Repairing the Office installation from the Command Prompt Add or Remove Programs - this basically overwrites my Activation process and then I can't activate my key, as it throws an error message.

Reinstalling Office - this brings me to step 1

What should I do? There is a similar thread on the official Microsoft Documentation page, but that applies to Office 106 or older...