A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
FWIW: I'm using the same version of Mac Office as well as 16.89 on Ventura [13.6.9] & Sonoma [14.7] without any such issue. I suspect you may be a victim of what I refer to as Early Adopter Syndrome. Apple seems to be more concerned with meeting release dates than with providing stable releases od=f the OS: Display issues have been common in the last several initial releases as well as the first few updates to them.
If you haven restarted the Mac since applying the 16.89.1 update to Office, try that. Otherwise it's a matter of waiting for further updates.