A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
A hot fix solution that works for me with the least intrusive steps:
Disable my wifi when it freezes and then enable it again. After doing this the app works fine until I restart it (Excel application?) again. I have also tried this using airplane mode toggle, least hassles solution so far, recommend to try this first!
Hope this helps with all affected users and useful hint for MS to address the underlying issue.
Credit:
Keyword to search on Google: "Excel on iOS and iPad OS freezes and completely non-functioning"
v004 update, Possible workaround solution 3 (Network reconnection), Suggested by u/ForestBliss.