A Microsoft file hosting and synchronization service.
Sorry for this unwanted experience. Here are some suggestions you can try:
First, make the test file or its folder Always keep on this device in OneDrive. That forces a full local copy, so Excel does not need to fetch the file from the cloud while opening it.
If your OneDrive settings still show it, turn off Use Office applications to sync Office files that I open. A lot of users reported that this immediately fixed very slow Word/Excel opening from OneDrive.
If that option is missing in newer OneDrive, open Excel > File > Options > Save, and untick AutoSave files stored in the Cloud by default. On newer builds, Microsoft community replies suggest this as the closest replacement for the old setting.
Also try a OneDrive reset. That rebuilds the sync app settings and often clears this kind of slowdown when opening files from Explorer.
Last, clear the Office/OneDrive cache or Windows credentials if the issue started recently. Corrupted cache or stale sign-in tokens can slow down cloud file opening even when sync looks normal.
Thank you for your patience in reading, I hope this information has been helpful to you.
If the answer is helpful, please click "Accept Answer" and kindly upvote it. If you have extra questions about this answer, please click "Comment."
Note: Please follow the steps in our documentation to enable e-mail notifications if you want to receive the related email notification for this thread.