Excel license updated, but not on actual file

If Excel still behaves like Office 2016 after updating, the most likely issue is that Excel is still using the wrong license or account.

Try this:

1. Open Excel.
2. Go to File > Account.
3. Under Product Information, select Update License.
4. When prompted, sign in with the Microsoft account that has the Microsoft 365 subscription.
5. Close all Microsoft 365 apps and reopen Excel.

Important details:

• The Update License button appears in Microsoft 365 apps and does not mean the current license is out of date.
• New purchases or entitlement changes can take up to 72 hours to appear automatically, but Update License can refresh it immediately.
• If Update License shows Couldn't update license with Error Code: 44, that is almost always caused by being signed in with an account other than the one that has the license.
• To confirm which license Excel is currently using, go to File > Account and check the product name shown under Product Information.

If Excel still shows the older license, check for app updates:

1. Open any Microsoft 365 app.
2. Go to File > Account.
3. Select Update Options > Update Now.
4. If Update Now is missing, select Enable Updates first.

If an Excel file keeps opening in the old Office installation instead of Microsoft 365, use File > Account > Switch License and sign in with the Microsoft 365 subscription account.

If Update Options is missing and only About appears, the installation may be a volume license install or updates may be managed by policy.

• Update License button in Microsoft 365 apps
• How to update Microsoft 365 or Office for Windows
• Can't get Office 365 to run because of pre-existing Office 2016 - Microsoft Q&A