A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
Ok, after futzing on-and-off all day, I think I found the issue:
Mac Office version 16.114.1 is the culprit as going back one version to 16.114 works for a valid Office 2021 license
If I download 16.114.1 and install - it fails.
If I download 16.114 and install and let autoupdate run to get 16.114.1 - it fails
If I download 16.114 and install and do not run autoupdate - it works.
So download 16.114, install, and turn off 'Automatically keep Microsoft Apps up to date' in Microsoft AutoUpdate
Hope this works for everyone here!
All versions of Office can be found here https://learn.microsoft.com/en-us/officeupdates/update-history-office-for-mac