Hi,
Welcome to the Microsoft Community.
Python in Excel is available on the Current Channel starting with version 2405. Since you're on version 2504, you should be eligible, so the issue likely lies elsewhere.
BTW, Python in Excel requires that Connected Experiences are turned on. To check this:
- Go to File > Options > Trust Center > Trust Center Settings > Privacy Options.
- Make sure "Enable connected experiences" is checked.
Give it a try and let me know your findings.
Jose R.
Microsoft Community Support.