My attempt to fix Microsoft Update disables OneDrive on Catalina and Mojave (and perhaps more) is in process.
Fix from Microsoft Answers
1. Download last working version - Install version 23.002.0102.0004.
2. Disable autoupdate for OneDrive preferably by blocking network access to g.live.com IP 220.127.116.11 Port 443 TCP. Port 443 is standard port for https traffic.
3. Remove current version, install last good version.
May 27, 2023 Update: A possible new fix for Catalina, but it's not working on Mojave.
May 29, 2023: Microsoft has decided it will not fix Mojave and has retroactively dropped Mojave support. From a support email written by a non-native English speaker.
In regard to the issue, we would like to inform you that OneDrive sync support has ended on MacOS Mojave.
It is equally sad for us to deliver such a hard message. However, we recommend you to update your operating system to MacOS 11 (Big Sur) or later. This will also help you to get a more secured Operating System with enhanced features and more security.
You may always use OneDrive on Web ( https://onedrive.live.com ) as a workaround to upload and download files from OneDrive.