Hello Diana,
Welcome to the Microsoft Community.
Based on the details you provided, I understand that there is no issue with the file itself and it seems to open fine on a Windows PC.
We do get similar feedback that some Mac users may be experiencing similar file access issues when updating either macOS or Office for Mac.
For the time being, I would recommend that you temporarily uninstall the current version of Office for Mac and then try downloading a functioning version prior to the update to see how it goes.
The latest version is 16.90, so you might consider reinstalling the version before that, such as 16.89 or else.
You can download in the following web.
Update history for Office for Mac - Office release notes | Microsoft Learn

In the meantime, we will be collecting more feedback that may be similar and keeping a close eye on such issues.
I look forward to receiving any feedback you may have.
Best regards,
Ian - MSFT | Microsoft Community Support Specialist