I am running excel office 365 on a Mac

This previously worked as expected, select a cell or cells, copy, select new location and paste formula contents into new location.
I started having problems with copy and paste functionality: when I am copying a cell that has a formula and I paste it into a new location, only the values are populated in
the new cell location.
the behavior exists when using:
- Mouse clicks
- Keyboard Shortcuts
- Edit menu
visually when I perform the copy operation, the border(s) of the cell(s) being copied are momentarily highlighted with the rotating dashed line and then the border just goes
back to the selected outline.
I can successfully copy the formula from the formula bar and paste it into a new location.
- this is a more literal copy and paste and none of the referential location information is updated after this operation.
I did some googling and tried various solutions to clear the clipboard cache and verify the calculation option was set to automatic vs. manual, but the problem persists.

I don't have any macros stored in a Personal Macro Workbook.
I performed an uninstall and re-install of excel and issue still exists
I found that when using the method described in this article to select and drag the selected cells to a new location works for the use case to copy cells within a worksheet.
https://support.office.com/en-us/article/move-or-copy-cells-rows-and-columns-3ebbcafd-8566-42d8-8023-a2ec62746cfc