Hi @Amila Weerasekara
Thank you for contacting Microsoft Open Specifications Support. After reviewing your question, its product related not protocol related that outlined here at https://aka.ms/openspecs. I am removing [openspecs-office] tag. I am adding [office-excel-itpro] tag, where they can better assist you.
Do update your post to include which version of Excel you have installed, so support team can better assist you.
According to this post https://answers.microsoft.com/en-us/msoffice/forum/all/excel-does-not-have-the-autosave-option/11aaba3a-0a9c-41ac-b5c3-1494682952d1
Only Monthly channel have this feature enabled for Excel.
Although Semi-Annual Channel (Targeted) and Monthly Channel versions are both labeled as Version 1708 (Build 8431.2079) but they are not the same. You can see the difference in the following article: Best practices: Update channels
If you wish to switch the channel, you can use the Office deployment tool 2016 to install Monthly Channel
Here are the steps to re-install Office 2016-bit 32 Monthly Channel:
Download Office Deployment Tool 2016 (ODT).
2. Save and extract the ODT file on desktop. Once extracted, right click on ‘Configuration’ file and click Edit in Notepad.
3. Now, delete everything from the configuration file and past the following command >Save.
Note: if you want to install 64 bit, then you can replace 32 with 64 in the following configuration file.
<Configuration>
<Add OfficeClientEdition="32" Channel="Monthly">
<Product ID="O365ProPlusRetail">
<Language ID="en-us"/>
</Product>
</Add>
</Configuration>
4. Open command prompt, enter the folder where you have saved the configuration file.
5. Then run the following command to download the package and press enter.
setup.exe /download configuration.xml
6. Wait for a while, till the cursor moves to next command and then again type the following command to start the installation and press enter.
setup.exe /configure configuration.xml
Image
Once you’ve entered the last command, you’ll see Office application will start to install, it may take a while for the process to complete.
Note: You don’t have to remove pre-installed Office 2016 from control panel before using ODT, you can straight away start with step 1.
Additionally, you can check the following article to know what features are released for which channel: Office 365 client update channel releases