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The Microsoft licensing changed in fall of 2020. Most faculty and staff have an A3 license with full access to desktop office apps and noticed no change. Emeritus, retirees, students, extra help and some other classifications have an A1 license which restricts their access to desktop apps, but still allows access to the online version of the app.
Emeritus faculty to not receive an A3 license by default. If they have an active appointment (such as academic hourly) then the employee will have has access to Webstore and can purchase the license upgrade using a departmental FOP. It is up to the department to determine if they will allow the Emeritus employee to buy the software with department funds.
Like students, residents and interns are employees that do not automatically receive an A3 license. If the department approves the expense, they can purchase through Webstore and IT can help them install (since they generally do not have admin rights on their PC).
The A3 license can be purchased from the Webstore. Search "Office 365" or "M365 A3" to find the correct item. Location at time this article published was: https://webstore.illinois.edu/shop/product.aspx?zpid=4029 . Cost at time of this writing is $65/year.
The online version is accessible to all employees. Login here using your NetID credentials: https://www.office.com/. The online version has many features of the desktop versions, but not all.