I've just started having this issue in recent days on 16.71 (23031200). I can open Excel files online, so the files themselves don't seem to be the issue. Whether I try to open a file or the app itself, I get a 'Microsoft Excel quit unexpectedly' error and here's the section from the Problem Report describing the crashes:
Crashed Thread: 0
Exception Type: EXC_CRASH (SIGABRT)
Exception Codes: 0x0000000000000000, 0x0000000000000000
Termination Reason: Namespace DYLD, Code 1 Library missing
Library not loaded: @rpath/ADAL4.framework/Versions/A/ADAL4
Referenced from: <0A9B0FDD-C3BA-3D0C-9234-DAC6BD7AACED> /Applications/Microsoft Excel.app/Contents/MacOS/Microsoft Excel
Reason: tried: '/usr/lib/swift/ADAL4.framework/Versions/A/ADAL4' (no such file, not in dyld cache), '/System/Volumes/Preboot/Cryptexes/OS/usr/lib/swift/ADAL4.framework/Versions/A/ADAL4' (no such file), '/Applications/Microsoft Excel.app/Contents/MacOS/../Frameworks/ADAL4.framework/Versions/A/ADAL4' (code signature invalid in <5F129BA3-D9D6-30AD-BC15-646BB39247CD> '/Applications/Microsoft Excel.app/Contents/Frameworks/ADAL4.framework/Versions/A/ADAL4' (errno=1) sliceOffset=0x000DC000, codeBlobOffset=0x000C4C50, codeBlobSize=0x0000A0C0), '/usr/lib/swift/ADAL4.framework/Versions/A/ADAL4' (no such file, not in dyld cache), '/System/Volumes/Preboot/Cryptexes/OS/usr/lib/swift/ADAL4.framework/Versions/A/ADAL4' (no such file), '/Applications/Microsoft Excel.app/Contents/MacOS/../Frameworks/ADAL4.framework/Versions/A/ADAL4' (code signa
(terminated at launch; ignore backtrace)
Thread 0 Crashed:
0 dyld 0x18084f190 __abort_with_payload + 8
1 dyld 0x180859a00 abort_with_payload_wrapper_internal + 104
2 dyld 0x180859a34 abort_with_payload + 16
3 dyld 0x1807e80a4 dyld4::halt(char const*) + 328
4 dyld 0x1807e5098 dyld4::prepare(dyld4::APIs&, dyld3::MachOAnalyzer const*) + 4204
5 dyld 0x1807e3dc4 start + 2404
Thread 0 crashed with ARM Thread State (64-bit):
x0: 0x0000000000000006 x1: 0x0000000000000001 x2: 0x000000016b22e900 x3: 0x000000000000007d
x4: 0x000000016b22e500 x5: 0x0000000000000000 x6: 0x00344c4144412f41 x7: 0x0000000000000420
x8: 0x0000000000000020 x9: 0x0000000000000009 x10: 0x0000000000000001 x11: 0x000000000000000a
x12: 0x0000000000000000 x13: 0x0000000000000031 x14: 0x000000021df3d58a x15: 0x000000016b22ee10
x16: 0x0000000000000209 x17: 0x00000001807e1344 x18: 0x0000000000000000 x19: 0x0000000000000000
x20: 0x000000016b22e500 x21: 0x000000000000007d x22: 0x000000016b22e900 x23: 0x0000000000000001
x24: 0x0000000000000006 x25: 0x00000001dc59f600 x26: 0x000000016b22f3c0 x27: 0x000000016b22f228
x28: 0x0000000000000000 fp: 0x000000016b22e4d0 lr: 0x0000000180859a00
sp: 0x000000016b22e490 pc: 0x000000018084f190 cpsr: 0x00001000
far: 0x000000010845c000 esr: 0x56000080 Address size fault