There are quite a few fonts you can remove from the Office apps. Each app has an embedded DFonts folder, which all have the same fonts. They take up a surprising amount of space for fonts. About 541 MB worth per app.
To access the DFonts folder, right click on each Office app, choose Show Package Contents and go to the Contents/Resources folder. Within DFonts, you can remove all but the fonts shown next.
This is based on the last version of Office 365 I used, so it may be slightly different now. MOVE the fonts not listed below to a folder on the desktop. Launch the Office app you removed them from. If for some reason it won't run, you can simply put the removed fonts back a handful at a time until you find the one(s) it doesn't like being missing.
arial.ttf
arialbd.ttf
arialbi.ttf
ariali.ttf
ArialNarrowBoldItalic.ttf
ArialNarrowItalic.ttf
ArialRoundedMTBold.ttf
ariblk.ttf
Calibri.ttf
Calibrib.ttf
Calibrii.ttf
calibril.ttf
calibrili.ttf
Calibriz.ttf
Cambria.ttc
Cambriab.ttf
Cambriai.ttf
Cambriaz.ttf
seguisym.ttf
symbol.ttf
tahoma.ttf
tahomabd.ttf
Verdana Bold Italic.ttf
Verdana Bold.ttf
Verdana Italic.ttf
Verdana.ttf
webdings.ttf
Wingdings 2.ttf
Wingdings 3.ttf
Wingdings.ttf
Any fonts you removed can then be treated like any other fonts and opened with your font manager to use them on all apps across your system.
As a separate note, the Office apps, who knows why, will not list Zapf Dingbats in the System folder. If you want, or need to see this font while using Office, put a copy of Zapf Dingbats from the System folder into each DFonts folder.