Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
That was the whole reason for not wanting Office365, I'll be wanting to use it while travelling so can't have something that needs a huge background download to get the bits I want to use. Hopefully installing off physical media (DVD) means it's copied across everything it needs rather than relying on background downloads to do things.
I did lose about 3GB of disk space just from (supposedly) installing standalone Word while %ProgramFiles%\Microsoft Office is only 1.45GB, so whatever it's done it's copied a vast amount of junk across to the hard drive. %ProgramFiles%\Microsoft Office\root\Office16 shows some files that aren't Word (e.g. excelcnv.exe), but no traces of other bloat, and in particular no trace of Outlook, Skype for Business, OneDrive, OneNote, and all the other rubbish that MS insists on dropping onto your machine. It's like buying a laptop crammed with unwanted vendor-installed bloatware, the only difference being that you can at least uninstall the vendor bloatware.