Hi @Prem Kiran
Welcome to Q&A forum ~
> When the either of the links
How did you send the link via emails?
Such as insert the hyperlinks manually or send the sharing link via Outlook.
Basde on my test, the sharing link seems not to include the "%20"(Space).
As you can edit this file on Edge, I sugget you go to document library, click Gear Icon > Library settings > Advanced settings > Under Opening Documents in the Browser section, change the radio button to "Open in the browser".
Besides, I would also suggest you add the URL into Excel trusted location via going to File > Options > Trust Center > Trust Center Settings > Trusted Locations > Add new location.
Then go to go to File > Options > Trust Center > Trust Center Settings > Protect View > disable Protected View temporarily via unticking 3 options.
If you have security software on machine, please quit temporarily to check this issue,
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