Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Log into this link with your Microsoft account details and try entering your product key there to link the Microsoft 365 subscription to your Microsoft account.
https://setup.office.com/Home?wa=wsignin1.0
If that process fails, try entering your product key on this link.
https://account.microsoft.com/billing/redeem?refd=learn.microsoft.com