On the second line from the top, underneath the MSO version number, you should see Shared Computer Activation, instead of a Product ID, like in the following screenshot. Go to File > Account > About Word (or whatever the name of the app is). Here are two ways that you can check whether shared computer activation is enabled on the computer that has Microsoft 365 Apps installed. Verify that shared computer activation is enabled for Microsoft 365 Apps You just need a subscription plan that includes those products.
You also can use shared computer activation with the subscription versions of the Project and Visio desktop apps.