The file appears to be a Click-to-Run (C2R) installer package for Microsoft Office, specifically targeting the 64-bit architecture. The version number indicates this is a very recent release (likely Q1 2024), combining components of Office 2016 volume licensing with the modern "Office 24" update channel.
: IT administrators use ISOs to deploy the software across multiple machines in a corporate network to save bandwidth. System Requirements for x64 (64-bit)