Update Microsoft resolves Excel freezing issues, fixes Word, Excel, PowerPoint crashes

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Microsoft has issued multiple fixes related to performance problems and random unexpected crashes on Microsoft 365 Office apps. A patch for the crash issue was released yesterday in which Office version 2205 apps, when trying to work with cloud-based files, would make the app crash. Word, Excel and PowerPoint are all affected. The fix has been implemented in Office version 2206.

Here's how Microsoft describes the issue and its accompanying fix:
ISSUE
Word, Excel, and PowerPoint might close unexpectedly when opening, closing, saving, uploading, or downloading cloud files in Office Version 2205. No errors are displayed when the application suddenly closes.

STATUS: FIXED
The problem has been fixed in Office Version 2206 (Build 16.0.15330.20230). The fix is being rolled out to users via an update. You can install the update manually by opening the Office app and selecting File > Account > Update Options > Update Now.
Microsoft has resolved performance issues in Excel 365 that include freezing when switching between worksheets containing filtered PivotTables. In its support document, Microsoft has described this issue and its accompanying fix.