Hello, thank you for reaching out to the Microsoft Community. I'm here to help with your questions or issues.
Does the problematic user have custom group policies, logon scripts, or domain login-specific environment variables (e.g., %AppData%, %Path%, %TMP%) that differ from a clean domain user?
You already proved this isn’t an Excel install or machine issue (repros clean on new PC). It’s a user state problem, likely COM-related or policy-induced.
Don't wipe the profile yet. Extract the Office logs with SaRA (Microsoft Support and Recovery Assistant) under that user context, then cross-check OfficeAddinLoad traces from %LOCALAPPDATA%\Microsoft\Office\16.0\Telemetry\ to isolate what’s triggering the long hang before the error.