3rd party apps cannot import data from Excel (MicroStation & Autodesk ACAD)

At my job we often structure & update data in Excel and then import it to construction drawings via MicroStation or ACAD. After a recent series of Security updates for Microsoft Office 2016, this feature now throws an error. In troubleshooting: we tried importing several different .xlsx files, used different .dgn files, tried two different .dgn apps, and tried with 4 different computers (one of which was a virtual desktop with different licensing). Since the problem originated 2 days ago, we found that our computers installed this series of MS Office updates 2 days ago:

Here is the error code we are getting in MicroStation.

Windows 11 Version 23H2 (OS Build 22631. 6783)