A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
With the macOS regional setting "English (US)" the system and Excel don't agree on how to read the environment locale, and then Excel uses its defaults instead. With regional setting set to "English (UK)" the system is OK, as you have experienced.
Referring to this post, https://forums.macrumors.com/threads/apple-releases-macos-sonoma-14-1.2408652/page-5?post=32666688#post-32666688, you can check your setting using the command
defaults read .GlobalPreferences AppleLocale
If the output is something messed up like en_US@rg=dkzzzz, you can override the setting with the command:
defaults write .GlobalPreferences AppleLocale en_DK
(assuming you want the English (US) - Danish combo indicated in your screenshot)