Macbook pro M1: Ms Excel very slow performance and keeps crashing regularly

I have been using Mr Excel on my macbook pro M1. but MS Excel keep hanging and crashing regularly. the excel file is not big, about 200+ records

very frustrating at least. in combination with auto save it is even worst. I keep loosing Data.

this is the worst thing ever. Instead of doing my core business activities i'm continuously trying to fix excel

I have even tried to copy one tab of the file to a new Excel document and removed functions and formulas. But the performance remained the same.

Next step is to reinstall Ms. Office. but I don't believe it will solve the problem

I software version is updated

OS version Monterey version 12.6

Excel Version: 16.65