Microsoft has confirmed that they've resolved this issue. Users should now be able to activate and/or sign in to their desktop office applications as normal.
Microsoft has identified the issue and implemented mitigation measures. Some users may continue to experience Office activation prompts, activation failures, or sign-in issues while recovery efforts continue. No user action is required at this time.
Users who are unable to access Office desktop applications may continue to use Microsoft 365 applications through the web at https://office365.uiowa.edu
Some users may experience error messages such as "Unlicensed Product" when using Microsoft 365 desktop applications (Outlook, Word, etc.). Microsoft is aware of the issue and is currently investigating the root cause.
If you encounter issues with Microsoft 365 desktop applications, the web version is fully functional and available through https://office365.uiowa.edu.
This alert will be updated as additional information becomes available from Microsoft.