Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Hello Great Machine!
Thanks for your comments and screen shot of your Account page. My account page Product Information screen looks nothing like yours, likely because I have never purchased any Microsoft Subscription Products.. On my "Services and Subscriptions" page shows only the 2 one-time purchases of Office Home & Business 2021, and the old Office Home & Business 2019 for my Mac computers.
My Office apps are working correctly on both my MaBook Pro and my iMac Pro, and both are on the latests releases issued by Microsoft. I believe the sudden appearance of the "Update License" links under the "About {MS App}" menu drop-down (for Word, Excel and PowerPoint) are part of Microsoft's plan to ultimately migrate customers to their MS 365 subscription products. I have no plans to participate in that evolution as Apple offers comparable apps that are included at no charge as part of the Apple Operating System (e.g., Sonoma).
I too have got too much else going on to continue pursuit of why Microsoft introduced the changes that started all this consternation in their January release. The Office Product is working for me and that's the important thing!
On a related note: my next-door neighbor has a 2013-vintage iMac and is using a one-time purchase Office Home & Business 2011 product!!! It continues to function properly despite being 10 years old, and they haven't mentioned being disrupted by "Update License" recommendations.