Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Hi,
Did you make any changes to your computer or subscription before this issue started?
Are you signed in to the correct Microsoft account linked to your Microsoft 365 subscription? You can verify your subscription status here: https://account.microsoft.com/services Is it active?
In the meantime, click "Update License" in your screenshot, restart Word, and check if the issue is resolved.
If the issue persists, sign out of your Microsoft account from the same screen, then sign back in.
Please let me know the result and answer the questions above so I can determine the next troubleshooting steps.