[DataFormat.Error] We received a malformed web response and credentials issue

Hi team :)
Happy Friday !!

There is an excel spreadsheet being connected with data sources and shared with users. Upon, hitting data refreshes it asks every user to edit credentials every time they hit data refresh or shows dataformat.error with malformed web response. There is no data format error though.

Can anyone please assist here or know how to solve this issue ??

Thanks