Sorry for the inconvenience caused to you.
Recently, some users have reported a similar issue with Volume licensed versions of Office 2016 after updated Windows to 24H2.
Did you install KB5050094? I find Microsoft says it fixed issues of opening Excel files.
If this KB still does not work, it's recommended to continue to give feedback to Microsoft on this issue:https://support.microsoft.com/en-us/windows/send-feedback-to-microsoft-with-the-feedback-hub-app-f59187f8-8739-22d6-ba93-f66612949332
Thanks for your understanding.
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