That's the Microsoft Store version of Office, which is not updated at the same frequency as Click-To-Run. You can uninstall that and go to office.com and install the Click-To-Run version.
1. How do I uninstall the store version (Win10). It's not in CP\ProgsAndFeatures. [And can I rid Win10 of all traces of the store?]
2. When I go to office.com, I eventually wind up at account.microsoft.com where my install choices are six: 32 & 64, Insider 32 & 64, Monthly Targeted 32 & 64.
Which do I want?
In spite of the additional officeclicktorun.exe process.exe, I prefer the click-to-run install. It has less file system smoke and mirrors, and commands like "excel" work at command prompts and in start/run.