Miscellaneous topics that do not fit into specific categories.
Good day WhistlePig,
Your concern is completely understandable, especially after the disruption caused by the previous update. Microsoft confirmed that the Office 2021 licensing problem was corrected in version 16.114.3 but there are not yet enough user reports to confirm that version 16.115 is working without problems.
If 16.114.3 is working normally, it would be reasonable to wait a little longer before installing 16.115. In the meantime, keep a current Time Machine backup so you have a recovery option if needed.
Turning off automatic updates does not always stop the reminder notifications. If they become distracting, open System Settings > Notifications, select Microsoft Update Assistant (if available), and turn off Allow Notifications. You can still check for Office updates manually whenever you are ready.
You could also monitor Microsoft’s Office for Mac release notes for new reports before deciding. The update reminder itself does not mean you must install it immediately.
Thank you so much for your patience!
Best regards.