Thanks for your support. Hopefully this answers your questions.
In addition, please open your Mac in safe mode and try to check whether you can save the Excel files without any problem.
Yes, this was done but the failure still occurred.


I have three excel files I use, two are small and one is very detailed (13 tabs with multiple calculations. ! tab contains over 240 hyperlinks to external websites).
Although all fail, the third is updated multiple times per day, so this is the most troublesome.
Failures occur and random times. Sometimes only after a few updates while other times after multiples changes are made.
b. What happens when you create a new Excel file and try to save it?
I created a new workbook and copied the data, tab for tab from the large workbook (hyperlinks removed prior to pasting the data) and added the 243 hyperlinks. Again, it failed on the new file.
I moved the files to a different iMac, and was able to recreate the failure there a well.
c. Where does the problematic Excel files stored?
In a folder, on the system (not external, thumb drive or iCloud).
d. If possible, can you try to change the location for saving the problematic Excel file?
I created a new folder copied the workbook to this location. And it too, failed. The same occurred when Incopied the file to and external drive. FYI: after the copies, I deleted the original file and restarted the machines.
e. Please provide the screenshot of error messages encountered at your end.
Two files attached. 1-Sharing Violation is when attempt to save a workbook. 2-Format is when I try the file, 646820000.mactf.
In addition...
I contacted Apple support and the looked at my system and believe it is a compatibility issue with Catalina 10.15 and Office 365 16.30. To prove this;
I removed Excel 16.30 along with the Excel folders and the plists associated with Excel (~/Library/Containers/com.microsoft.Excel/Data/Library/Preferences/com.microsoft.Excel.plist), then downloaded and installed Excel 16.29.1
I have been working with the original file, in thenorigional location since Saturday, have made about 50+ changes, saved the document often, and the problem does not occur with Excel 16.29.1