The Microsoft Online Service Terms dated May 2019 still appear to state this is not allowed?
https://www.microsoft.com/en-us/licensing/product-licensing/products#OST
Office 365 Applications
Office 365 Business
Office 365 ProPlus
Visio Online (Plan 1 and 2)
Installation and Use Rights
Each user to whom Customer assigns a User SL must have a work or school account in order to use the software provided with the subscription. These users:
• may activate the software provided with the SL on up to five concurrent OSEs for local or remote use;
• may also install and use the software, with shared computer activation, on a shared device, a Network Server, or on shared servers on Microsoft Azure or with a Qualified Multitenant Hosting Partner. A list of Qualified Multitenant Hosting Partners and additional deployment requirements are available at http://www.office.com/sca. This shared computer activation provision does not apply to Customers licensed for Office 365 Business; and
• must connect each device upon which user has installed the software to the Internet at least once every 30 days or the functionality of the software may be affected.
• may use Internet-connected Online Services provided as part of ProPlus. Additionally, if permitted by Customer, users may elect to use connected services subject to terms of use other than this OST and with respect to which Microsoft is a data controller, as identified in product documentation.