A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
1
The 'Repair Now' button on that error popup dialog only performs a quick repair of the Office apps and that rarely resolves the problem with the Office apps, the best option is to perform a full online repair of your Office installation.
Before performing this process, please log into your Microsoft account on this link (https://account.microsoft.com/services/) and check to ensure your Office licence or Microsoft 365 subscription is listed correctly on your account.
Open the Settings App (gear icon on your Start Menu)
Go to Apps, then scroll down to find Microsoft Office
Select that and choose Modify - Online Repair
That should fix any issues with your Office Installation.
2
If that does not resolve the problem, the best option is to completely uninstall the Microsoft 365 (Office) suite, restart your PC, then go to your Microsoft account on the link above and reinstall Office.