OK, boss, first things first. Microsoft Office 365 supports the current three versions of macOS: Sonoma (14), Sequoia (15), and Tahoe (26). Make a note of this.
Your MacBook Air may have shipped with either Catalina (10.15) or Big Sur (11) You can run up through Sequoia, however. To check your version, select "About This Mac" from the Apple menu up top. The macOS version is in the lower-right block of text. If it's anything other than Sequoia, you can get to Sequoia by opening System Preferences (or System Settings if in Ventura (13) and later) from the Apple menu or the Dock. Find Software Update there. If Sequoia doesn't appear, run the phrase "macOS sequoia download" through a Google search to get the official Mac App Store link. Tidy up your SSD before running the downloaded file in /Applications.
When the Sequoia installer starts, choose the options that best fit your Macs. Enter your password when prompted, then let 'er rip! Restart when asked.
Complete any setup wizards that might be pending. Next, update Office and MS AutoUpdate until you get the all-clear. Do the same for other apps as they become available.
--Nate