Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
After 8 hours and three levels of MS support later...
Per the Outlook Escalation Team: "I just wanted to update you that this is a known problem, and one for which a hot fix request has already been filed with the product group. From what I gather..it will be a couple of months before the fix is available as a public download."