microsoft has already made non-monthly-subscription licenses to use, no longer available for any recent version of office.
Older office versions on macos and ios have already lost the ability to edit and/or save, due to the expiry of a certificate and intentional choice not to renew such cert (that was the plan anyway); https://davescomputertips.com/ms-ending-perpetual-office-licenses-july-13/
Only the old; "Office Home 2024" is available; https://www.microsoft.com/en-us/microsoft-365/p/office-home-2024/CFQ7TTC0PQVJ
Notice that it says; "For non-commercial use" - although that's advice and not (yet) added as a restriction to the license terms; https://www.microsoft.com/content/dam/microsoft/usetm/documents/office/2024-word/retail-(packaged)/Microsoft%20License%20Terms%20Office%202024%20-%20English.pdf
(Sneaky move there, implying that the LGPL's are "open source" licenses, without making such false statement - those are free software licenses after all).
Older office versions are by design useless when trying to handle files by newer office versions (and also when trying to handle files from other computers of the same version and the same files on the same computer, but still) - I reckon libreoffice has better MOX-2026 rendering compatibility than office 2024.
o24 will automatically get worse at rendering, with further sabotaging changes to the MOX format in o365, without microsoft even needing to roll out sabotaging updates to o24.
m$ is not worried about a few subscriptions being activated on clown computers (they'll stop such if they can, but if they can't, sooner of later the designed obsolescence will bite anyway).