A family of Microsoft presentation graphics products that offer tools for creating presentations and adding graphic effects like multimedia objects and special effects with text.
This error is being reported with the Office 2021 apps on a Mac at the moment, follow these steps, step 3 is important.
1
Use the steps provided on this link to remove the Office licence from your Mac:
2
Uninstall the Office apps using the steps provided on this link:
https://support.microsoft.com/en-au/office/lifecycle/officeinstall/uninstall-office-for-mac
3
Then download and install the October 6th version of Office for Mac from this link.
Then in one of the Office apps, Click Help - Check for Updates.
That will open Microsoft AutoUpdate, disable 'Automatically keep Microsoft apps up to date' and apply that setting.