Excel on my MacBook Pro responds slowly

OS: Ventura 13.4.1 (c)

Excel Version: 16.76

I am running Microsoft Excel for Mac, on a 13" Macbook Pro, M2, 2022. Simple actions in Excel seem to have significant lag. For example, I can enter a value in a cell then move to the next cell. Very frequently I will not be able to enter into the next cell for 5 to 10 seconds. This happens on nearly every spreadsheet, regardless of size or whether or not I just created the spreadsheet. Files are stored on OneDrive or Teams

I have tried rebooting in Safe Mode - excel acted the same

I have done the Disk Utility First Aid process

I have created an alternate profile and experienced better performance, but still had issues with the application pausing.

There is no impact on other applications (MS Office or other), Excel is the only affected application.

[Re-Titled by Moderator]