Object Linking and Embedding (OLE) is a technology developed by Microsoft that allows Office applications to interact with other applications. It allows one editing application to send part of a document to other applications and then import or take it back together with other content.
For example, if Excel tries to communicate with PowerPoint, it issues a command to OLE object and waits for the response from PowerPoint.
However, if the required response is not received within a specific duration of time, the following error might be displayed:
Microsoft Excel is waiting for another application to complete an OLE action
This issue is a Microsoft issue. It is well explained in these two links. Follow the steps in these docs to fix this issue: