Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Dear Aaron,
Do you use and activate the Office for Mac applications at the first time? If yes and if you are using a Microsoft 365 business subscription, I'd like you to confirm whether you can log into portal.office.com with your account and whether you have the The latest desktop version of Office license assigned on the Subscriptions page.
If it is convenient, upload a full screenshot of the Subscriptions page in your account for our reference.
Note: Remove any private information before uploading the screenshots.
Thanks for your effort and time.
Sincerely
Cliff | Microsoft Community Moderator