The following will replace text in Word 16.69.1 from the used range in Excel 16.69.1, where that used range is the value of your two columns of find and replace strings. This was tested on Monterey v12.6.2.
The AppleScript will prompt you to select the Excel file first, followed by a second prompt to select the Word document. The script will find and replace the strings in the Word document, closing and exiting Word when done. You can review the result by selecting that Word document and pressing the spacebar to use Quick Look. I recommend that initially, you use a copy of the Word document. The Excel content is unchanged.
(*
AppleScript to open an Excel spreadsheet and copy its used range into a list of rows
comprised of the find string and replacement strings. The script will then loop through
all rows in the AppleScript list and perform a find/replace in the Word document.
Tested: macOS Monterey 12.6.2
VikingOSX, 2023-01-21, Apple Support Communities, No warrany expressed or implied.
*)
use scripting additions
set theXLSX to (choose file of type ("org.openxmlformats.spreadsheetml.sheet"))
set theDOCX to (choose file of type {"org.openxmlformats.wordprocessingml.document"})
tell application "Microsoft Excel"
activate
open file theXLSX
tell active sheet of document 1
-- create a list of lists where each row will become a two component list item
-- comprised of the find string and the replace string
set arange to value of used range
end tell
end tell
tell application "Microsoft Excel" to if it is running then quit
tell application "Microsoft Word"
activate
open file theDOCX
set myfind to find object of text object of active document
set properties of myfind to {match case:false, match whole word:false, match wildcards:false}
repeat with arow in arange
execute find myfind find text (item 1 of arow) replace with (item 2 of arow) replace replace all
end repeat
close active document saving yes
end tell
tell application "Microsoft Word" to if it is running then quit
return