A family of Microsoft word processing software products for creating web, email, and print documents.
With that error message, you may see a suggestion to Repair Now. Unfortunately, that option often does not work.
Instead, restart your computer and then run an Online Repair; see https://support.microsoft.com/en-us/office/repair-an-office-application-7821d4b6-7c1d-4205-aa0e-a6b40c5bb88b .
Before you begin, note that an Online Repair often includes a reinstall of Office, and therefore you should verify that you can access your account at https://account.microsoft.com/services and that Office is associated with it.