This matches a known Excel issue where paste can fail silently: the copied cells stay selected, but nothing is pasted and no error appears. Microsoft lists this as investigating for Excel 2024, 2021, 2019, and 2016.
If the problem is specifically with Paste Special, check these items:
- In Excel, go to File > Options > Advanced.
- Under Cut, copy and paste, make sure Show Paste Options button when content is pasted is enabled.
- Close all web browser instances and test again.
- Start Excel in Safe Mode by holding CTRL while opening Excel, then click Yes when prompted.
- If paste works in Safe Mode, an add-in is likely causing the problem. Re-enable add-ins one at a time until the conflicting add-in is identified, then leave it disabled or uninstall it.
If the issue started after a recent Office update and normal paste now does nothing while cut/paste still works, the current documented status is that Microsoft is investigating. Installing the latest Office updates and watching the known-issues article for changes is the supported path.
If Excel is being used with automation or add-ins that perform clipboard operations across multiple Excel instances, avoid running those clipboard-based tasks in parallel. Microsoft’s documented workaround is to avoid clipboard APIs in parallel Excel processes, or use other APIs such as getting and setting values by array when possible.