Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
As described there C2R fixes itself, might be correct in the past, currently that's not working.
On one machine
HKEY_CLASSES_ROOT\TypeLib\{00025E01-0000-0000-C000-000000000046}\5.0\0\win32
was missing.
We made also sure that
HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Office\ClickToRun\REGISTRY\MACHINE\SOFTWARE\Classes\TypeLib\{4AC9E1DA-5BAD-4AC7-86E3-24F4CDCECA28}\c.0\0\win32
and
HKEY_CLASSES_ROOT\TypeLib\{4AC9E1DA-5BAD-4AC7-86E3-24F4CDCECA28}\c.0\0\win32
points to C:\Program Files (x86)\Common Files\Microsoft Shared\OFFICE16\ACEDAO.DLL on a x86 System, on x64 see documentation.
BTW: The documentation is currently wrong as it tells you to look in sub path e.g. "15.0/ClickToRun" but this does not exist. But a parallel folder without the "15.0" is correct.