Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Which subscription product do you have today? 365 Basic, perhaps? It offers OneDrive storage as well as web and mobile apps (no local install on a PC or Mac).
To install Office on one more more PCs or Macs, you'll need Microsoft 365 Personal, if you want a subscription. It is for multiple devices but only one user. For a comparison of subscription products, have a look at https://www.microsoft.com/en-us/microsoft-365/buy/compare-all-microsoft-365-products?msockid=16f825d26fb0601c2ee232a46e41616e .
Another option would be to get Office Home & Business 2024, which is for one user and one device (Mac or PC). You get Word, Excel and PowerPoint. No OneDrive storage or mobile apps included; the product does include classic Outlook. See https://www.microsoft.com/en-us/microsoft-365/p/office-home-business-2024/CFQ7TTC0PBM7?msockid=16f825d26fb0601c2ee232a46e41616e .