You cannot update that MacBook (Retina, 12-inch, Early 2016) past Monterey. Microsoft has a policy of supporting only the most recent three – and Monterey is not one of them. That means that you will not be receiving Office 365 updates.
Microsoft Support – Upgrade macOS to continue receiving Microsoft 365 and Office for Mac updates
"If you're on an unsupported version of macOS, your Microsoft 365 apps will still work but you would no longer receive any updates including security updates. For example, if you're on macOS Monterey, but later you don't update your macOS to a supported version when macOS Monterey is no longer supported, you won't receive any updates of any kind."
"Note that new installs of Microsoft 365 for Mac require macOS Ventura or later."
I believe that current versions of LibreOffice will run on Catalina and later. (Although if you have a working copy of Office 365, you could just keep using that, without updates.)
As for current versions of Pages, Numbers, and Keynote, those only run on Sonoma and higher. They won't run on Ventura even though it is still one of the most recent three!
