The core of your query seems to be asking: "Can I run the latest (as of 2021) version of Microsoft Office on my older Mac running OS X Lion (10.7/10.7.5)?"
This remains the best local Microsoft option for Mac OS X Lion. It provides native versions of built to run smoothly on older Intel processors.
Modern software relies on 64-bit optimizations and instructions missing from older Intel Core Solo or Core Duo processors found in early Lion-compatible Macs.
Requirements: You will need a browser that still works on Lion, such as a late version of Waterfox Classic or Pale Moon (Safari on Lion is too old to render modern websites). Pros: It is free and always up to date.
It sounds like you're referring to running on Mac OS X Lion (10.7.5) — likely a typo in the version number (10.7.5, not 1075) and the year 2021.
However, you can still achieve functional productivity by installing legacy versions of Office that are compatible with the and early 64-bit OS architectures .
Running Microsoft Office on Mac OS X Lion 10.7.5: The Ultimate Compatibility Guide
Since Microsoft no longer sells Office 2011 directly, you have to look toward third-party sources or existing subscriptions: How can I get Office on my old Mac OS X Version 10.7.5
Download the cumulative update packages (such as Office 2011 Service Pack 3 and the final 14.7.7 update) from digital archives.