I had this issue and it's now been sorted via a registry key entry fix:
Registry entry: HKEY_CURRENT_USER\Software\Microsoft\Office\16.0\Excel\Options] “DisableRobustifiedUNC” = dword:00000001
Robustified UNC
While the effect of the registry key has not been publicly documented by Microsoft, the “Robustified UNC” feature affects the security mechanisms used when opening a file from or saving a file to a network share in Office applications. Disabling the “Robustified UNC” feature could also solve issues such as documents not opening when double clicked from a network share (while Word does open) or hangs or slow performance when opening/saving files that are located on a network share.