Also, regarding Excel 2019. Remember that is the fixed version. No incremental upgrades will come to that version where with O365 you do get the updates. The old upgrade cycle was about three years between versions which made it very compelling to go O365. With the added applications and features of O365 and one-line storage, you may want to take a closer view of the advantages of O365.
In a closed environment, 2019 can be very suitable and even in some training environments, as it remains very static. Though that is a balanced pro/con.