Macros blocked in shared OneDrive Excel workbook as untrusted source

I have a macro-enabled Excel workbook (.xlsm) stored in OneDrive and shared with another user. When they open the shared workbook in Excel Desktop, they receive the error:

"Microsoft has blocked macros from running because the source of this file is untrusted."

We've already tried enabling macros in Trust Center, adding Trusted Locations, and opening the file from a synced OneDrive folder rather than Excel Online, but the error persists.

Since downloading the file creates a separate copy and defeats the purpose of a shared workbook, what is the correct way to allow VBA macros to run in a shared OneDrive-hosted workbook while keeping everyone working from the same file?