Excel AD requires the Excel COM library.
Excel AD requires a Fully functioning copy of Excel installed. That means Excel must be capable of running VBA macro’s and have the COM library installed.
The Excel COM library option needs to be selected when Excel is installed.
Some of the subscription versions of Excel may not work with Excel AD.
Microsoft 365 Apps for business seems to work
How to Test the Excel Installation for COM capability.
In MS PowerShell run the following command.
$excel = new-object -comobject excel.application
The command should run without error.