Some time last week my colleague laptop had this error while trying to run or open Microsoft office 365 applications (Word, Excel, Outlook)
I carried out below steps to resolve the problem.
1. Go to control panel to uninstall existing office 365 application.
2. Restart the Windows after a successful uninstallation
3. Reinstall Microsoft Office 365 from installation media or download setup.
Alternatively online repair would have suffice but I recommend clean installation
see suggestion below
The instructions to follow to do this are here:
https://support.microsoft.com/en-us/office/repair-an-office-application-7821d4b6-7c1d-4205-aa0e-a6b40c5bb88b?ui=en-us&rs=en-us&ad=us
