Can Microsoft Office 2024 or Microsoft 365 run on iMac M3?

Looked up the requirements for Office 2024. Yes, it will run.

"Office for Mac is supported on the three most recent versions of macOS. As new major versions of macOS are made generally available, Microsoft will drop support for the oldest version and support the newest and previous two versions of macOS".

Yes, both should. FWIW, I'm currently running Microsoft 365 on my M2 Pro Mac mini.

The current version of Microsft 365 will. Don't know about Office 2024.

Office 2016 (with patches) is the oldest Microsoft 365 Copilot version with support for Apple silicon, all Microsoft licensing discussions aside.

You're very welcome!

You're welcome.