Can I link and update between two excel files?

Use Power Query

Every time you update the source file, refresh the second file.

Activate the "source" workbook/worksheet.

Select the cell or range that you want to link to.

Copy the range.

Activate the "destination" workbook/worksheet.

Select the (top left) cell where you want the link.

Click the lower half of the Paste button on the Home tab of the ribbon.

Select 'Paste Link' or press N.