Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Is there any reason you are using the 16.67 version because Tahoe can run the latest version?
I would suggest that you uninstall it and get the installer file directly from your account's order history/service page.
If it still doesn't work, download the updater and run it. https://support.microsoft.com/office/office-for-mac/troubleshoot-microsoft-autoupdate-in-microsoft-365-and-office-for-mac?apid=ets