Microsoft Word compatibility error on new iMac

2024 Microsoft Office Home version installed on an 2024 IMac Tahoe 26.3 that I just purchased this month. Installation will not open up. I updated all the apps. I get this message..."Check with the developer to make sure Microsoft Word works with this version of macOS. You may need to reinstall the application. Be sure to install any available updates for the application and macOS.

Click Report to see more detailed information and send a report to Apple."

Any idea on how to make this work?