Seems (from some recent posts) that there are soon to be additions to some of the currently available commands in that you can/will/maybe able to use the insert image facility to insert images, or links to them into the cell rather than at sheet level.
And - from the Access forum the link can have an added prefix to indicate that the source of an image is on the local system.
I have not investigated sufficiently to test and get a proven setup working, and I suspect that I may have been reading about expected~impending "insider" features.
That then leads to the possibility that the new commands, with VBA code available from using Record to generate a macro from the using the actions. and then, maybe soon getting the full syntax in the Microsoft online documentation.
Then the question will be when will it be in the versions of Microsoft 365 on all of your user-group's systems.
And - the possibility that there is a concurrent effort going into improving the "IMAGE()" function.
But, when reading my posts, please consider that I am now well over 10 years into my attempts to "retire" from IT work, so am not actively looking to develop "stuff", let alone do that using the new facilities !
I would also consider it important that the function should be set up to allow the use of "ADDRESS()" and other functions to generate the link, so that it will be easy to redirect a large set of links to alternative sources -
Local for testing, server for corporate use, with the run-time option to switch between local, server and web based sets of images, all with access security management, such as passwords generated according to login device and userid, and connection path to the data- again a reason to use "ADDRESS()" type processing to get the link even if using run-time set partition letters for server based data access.
So - maybe that sort of context need should be included in future requests for the facility to be improved to generally manageable usability.