Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
The issue seems to be resolved in:
Microsoft® Excel® for Microsoft 365 MSO (Version 2504 Build 16.0.18730.20000) 32-bit... at least it doesn't crash anymore on my files.
In my Microsoft 365 version (2503 Build 18623.20156), the problem remains. There does not seem to be any later version available. "Check for and Apply Updates" (from the Account page in Excel) says I have the latest....
Are using a Beta channel release or what?