There is a tutorial on MakeTechEasier that explains how to resolve the Windows "Not Enough Memory to Run Microsoft Excel" error.
How to Fix the “Not Enough Memory to Run Microsoft Excel” Error in Windows
Although Microsoft is constantly working to optimize its services, apps such as Excel might still be occasionally faced with bugs and crashes. For instance, the “Not Enough Memory to Run Microsoft Excel” error in Windows 10 and 11 prevents users from launching the app and opening any spreadsheets. Here we show you how to resolve it.
How to Fix the “Not Enough Memory to Run Microsoft Excel” Error in Windows