Latest update from Microsoft
We are excited to announce that starting today we are releasing new versions of many of our Microsoft 365 for Mac apps that run natively on Macs with M1. This means that now our core flagship Office apps—Outlook, Word, Excel, PowerPoint, and OneNote—will run faster and take full advantage of the performance improvements on new Macs, making you even more productive on the latest MacBook Air, 13-inch MacBook Pro, and Mac mini. The new Office apps are Universal, so they will continue to run great on Macs with Intel processors. The apps are not only speedy, but they also look fantastic as they have been redesigned to match the new look of macOS Big Sur. Here is a peek at Outlook on the new 13-inch MacBook Pro.
More details here.