Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Since you are using macOS Monterey 12.7.6, the message you're seeing is expected. Microsoft 365 is no longer receiving current updates on macOS Monterey.
Version 16.88, released in August 2024, was the final Microsoft 365 and Office build compatible with macOS Monterey. Existing installations may continue to work, but they will no longer receive security updates, fixes, or new features. Current Microsoft 365 and Office 2024 installations require macOS Sonoma 14 or later.
If your Mac cannot be upgraded to a newer supported version of macOS, you can install the final compatible version of Office 16.88 using Microsoft's installer:
https://officecdn.microsoft.com/pr/C1297A47-86C4-4C1F-97FA-950631F94777/MacAutoupdate/Microsoft_365_and_Office_16.88.24081116_Installer.pkg
Alternatively, you can use Word, Excel, and PowerPoint on the web through
https://www.microsoft365.com/.