Go to Settings->Apps, select Office there, click Modify and than select "Online Repair"
Reboot your PC and check if this helped with the problem.
If not than:
1. download utility from here: https://sourceforge.net/projects/googlesyncmod/files/Utilities/
2. start command line as admin
3. depending on location of msoutl.olb, run command: regtlibv12.exe "C:\Program Files\Microsoft Office\Root\Office16\MSOUTL.OLB" or command: regtlibv12.exe "C:\Program Files (x86)\Microsoft Office\root\Office16\MSOUTL.OLB"