A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
1
Press and hold the Ctrl key on your keyboard when you open Excel to open it in Safe Mode, is the cut and paste operation then succeeding?
If so, uninstall any add-ons you may have added to Excel.
2
If that does not resolve the problem, the best option is to perform a full online repair of your Office installation.
Open the Settings App (gear icon on your Start Menu)
Go to Apps, then scroll down to find Microsoft Office
Select that and choose Modify - Online Repair
That should fix any issues with your Office Installation.