Ah! Okay, that makes sense. MS killed the activation/verification server for Office 2011.
What replacement you get depends on your needs.
1) Office 2019. Perpetual license software. Just like Office 2008, 2011, 2016. Bad news. MS changed how it supports the perpetual releases. Before, you could use it under as many Mac OS upgrades it would work in. For Office 2011, that was almost 8 years. Not anymore. Their new rule is such versions will be supported for only three major Mac OS releases. Office will simply refuse to run in the next release. Since 2019 came out with Mojave, that means the three OS versions Office 2019 will run in should be Mojave, Catalina and Big Sur.
MS said there will be at least one more perpetual license release. Whatever that will be named, expect it to be released just before, or alongside with whatever Apple calls the next major OS after Big Sur. That means what you spend on Office 2019 now will only be good for one year if you always keep the OS current. Then you'll have to pay full price again for the next perpetual Office release.
2) Office 365. There's more to it than just monthly fees (or once a year). 365 always gets the most current features when they're ready. Office 2019 is feature stuck where it was at its release. For a single user, the perpetual license (if you get the full three years worth out of it) is still cheaper than even the $70 single license of Office 365. But as soon as you have to computers to run 365 on, the $100 per year option is less than two individual perpetual licenses. And a LOT cheaper if you use all six.