Hi,DeepakPershad
Thank you for using Microsoft products and posting them in the community.This appears to be a known issue that currently affects Office licenses. Users in different regions have reported the same issue as of June 2024. We've summarised the highlights of the current situation in this issue, which you can check out at any time:**1-> Impact Summary:Many customers around the world have reported that they are unable to activate the desktop apps and the system has reported error code 29. Reported issues include:Unable to recognize Office licenseOffice license can't be activatedOffice license can't be upgraded2-> Current status:Some users have reported a workaround:1.fallback version1, close all Office software, in the "Start Menu" in the search "Command Prompt" (or "cmd"), and the right mouse button click and select "Run as administrator";2, in the command prompt enter the following code:cd %programfiles% \Common Files\microsoft shared\ClickToRunEnter;3, and then enterOfficec2rclient.exe /update user updatetoversion=16.0.17531.20120After backing out of the version in Word "File > Account" menu. On the right side, check the "Microsoft 365 and Office Updates" heading, click the "Update Options" button and select the "Disable Updates" option. To disable the automatic update feature.2. Press Windows + R to open the Run box, copy and paste the next path, back up all folders in that path, and then delete them.%localappdata%/Microsoft/OneAuth%localappdata%/Microsoft/IdentityCache3. Press Windows + R, enter regedit, click OK, open the registry, find the next registry subkey, right-click Identity, and delete it.**HKEY_CURRENT_USER\SOFTWARE\Microsoft\Office\16.0\Common\IdentityWarning: Editing registry or workgroup subkeys is generally intended for power users, administrators, and IT professionals. This can help with some problems; However, serious problems can occur if you don't edit the registry incorrectly. So, make sure to follow these steps carefully. For added protection, back up the registry before modifying it. Then, you can repair the registry if something goes wrong. For more information on how to back up and restore the registry, click here to view the article.****4. Uninstall Office and download it again using the offline installation package365 Offline Configuration Packages: from this linkHowever, some users have reported that the workaround did not resolve the issue. You can give us feedback after trying it.We fully understand the inconveniences and disruptions caused by this issue. Our team is actively working on this issue and is working to resolve it as soon as possible. We're still in the process of collecting and monitoring many cases and thread behavior so that we can keep track of any new updates or patches that come in.If you have any questions or need further assistance, please let us know.
Best regards
Zoro-MSFT | Microsoft Community Support Specialist