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If you redeem it to your Microsoft Account then you can deactivate it on the old device and activate it on the new one.
Sorry, there was a problem. Please try again later.Generally, no, the license is good for only one installation on one computer. My computer guy said it is possible to transfer, as long as you retained the product key (I searched for mine, but couldn't find it). Again, this is something that most people can't do at home, it's usually done by a technician to restore Office on a crashed drive, but if you have a product key, there's a work-around to get it loaded on a new computer. Another consideration is that an older Office version is probably 2013 and the newer might be faster/more compatible with Windows 10.
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![Microsoft - Office Home & Student 2019 (1 Device) [Digital] - Mac OS, Windows [Digital]-Front_Standard](https://pisces.bbystatic.com/prescaled/500/500/image2/BestBuy_US/images/products/6402/6402557_sd.png;maxHeight=100;maxWidth=60)