Screen shot of Customize Keyboard in Excel for Mac Read more details here - Create a Custom Keyboard Shortcut. Then just click the “Add” button to assign the key combination to the selected command.

If it’s already in use, you may want to pick a different combination. Select a command, press a key combination, and see if it’s used already. Pick the category of command you’re trying to find, and then search or browse for the command in the list. Just go to the Tools menu and choose Customize Keyboard. You can now assign your own key combinations to many commands within Excel.

To get the update, go to Help > Check for Updates, and update to version 16.18 or greater. The 'Customize Keyboard' feature is now available.

There's a feature in Excel for Mac that many people have been asking for.