Thank you for assisting. I understand some of my description was lost in translation as you are now suggesting me to do exactly what I have already done. These are the steps I have taken this far for Office Home & Business 2021 for Mac:
Downloading the installation package (Microsoft_365_and_Office_16.77.23091003_BusinessPro_Installer)
Installing - no problem reported from installation.
Launching MS Word - I am prompted to log in to my Microsoft Account.
Entering username - no problem.
Entering - password - no problem.
Receiving error message from Microsoft - ”Something went wrong [2002]”.
Downloading License removal package (Microsoft_Office_License_Removal_2.7).
Executing License removal package - no problem.
Uninstalling all the component of MS Office.
Reinstalling - no problem.
Launching MS Word - I am prompted to log in to my Microsoft Account.
Entering username - no problem.
Entering - password - no problem.
Receiving error message from Microsoft - ”Something went wrong [2002]”.
Checking and adjusting the security settings of the files in PrivilegedHelperTools according to the guide from Microsoft.
Launching MS Word - I am prompted to log in to my Microsoft Account.
Entering username - no problem.
Entering - password - no problem.
Receiving error message from Microsoft - ”Something went wrong [2002]”.